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Sterling Construction (NASDAQ:STRL) stock reached an all-time high of 233.81 USD, marking a significant milestone for the $7.08 billion construction company. According to InvestingPro, the company maintains a GREAT financial health score, with analysts setting price targets between $250-265. Over the past year, the stock has seen a remarkable increase of 96.73%, showcasing strong investor confidence and robust performance. This upward trend reflects the company’s ongoing growth and strategic execution in the construction sector, positioning it favorably in the market. The surge to an all-time high underscores the positive sentiment surrounding Sterling Construction’s prospects and its ability to capitalize on industry opportunities. However, InvestingPro analysis indicates the stock is currently in overbought territory, with 12 additional ProTips available for subscribers to make informed investment decisions.
In other recent news, Sterling Infrastructure, Inc. announced a definitive agreement to acquire CEC Facilities Group for $505 million. This acquisition, set to close in the third quarter of 2025, includes $450 million in cash and $55 million in Sterling common stock, with an earn-out opportunity based on operating income targets through December 2029. Sterling estimates CEC will generate $390-415 million in revenue and $51-54 million in EBITDA for full-year 2025, projecting it will be accretive to earnings per share by approximately $0.63-$0.70. Additionally, Sterling has amended its credit facility, extending its maturity to June 2028 and enhancing financial flexibility, which includes a $300 million term loan and a $150 million revolving credit facility. DA Davidson recently raised its price target for Sterling Construction to $265 from $205, maintaining a Buy rating, following the CEC transaction announcement. The firm highlighted potential growth opportunities, particularly within the E-Infrastructure segment, and noted the possibility of CEC growing faster under Sterling’s ownership. Furthermore, Sterling appointed Nicholas Grindstaff as the new Chief Financial Officer, effective July 10, 2025, succeeding Ron Ballschmiede. Grindstaff brings over 30 years of finance and leadership experience, most recently serving as CFO of Cinterra.
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