Updated Aug 6 at 2:12pm ET.
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Argus Research lowered its price target for the infrastructure firm to $800, down from a previous $900. Even with the lower target, the firm's new price is still about 19 percent higher than where the stock trades today.
This adjustment follows the company's recent earnings report. While analysts often tweak these targets to align with new financial data, the gap between the current price and this target suggests the firm still sees plenty of room for the stock to rise as the company works through its large backlog of power grid projects.
Source: Argus Research
The company filed an 8-K, a form used to notify the public of major events that shareholders should know about. This filing specifically covers a material agreement, which is a contract significant enough to potentially affect the company's financial health or operations.
This filing is tied to the company's recent move to raise cash through a senior notes offering. By formalizing these agreements, the company is locking in the terms for its new debt, which it will use to fund its ongoing operations and large-scale infrastructure projects.
Source: 8-K filing
The company announced the pricing for three sets of senior notes, which are a type of bond or debt the company sells to investors. The total offering includes 500 million dollars due in 2029, 750 million dollars due in 2033, and another 750 million dollars due in a later period.
Raising this cash allows the company to maintain the specialized equipment and large workforce it needs to modernize the power grid. While taking on debt increases interest costs, it provides the necessary capital to execute on its 53 billion dollar backlog of signed contracts.
Source: PRNewsWire
Mizuho Securities raised its price target to $741 from $659. This move reflects the firm's confidence after the company reported record revenue and raised its financial goals for the rest of the year.
Source: Mizuho Securities
Quarterly earnings report on 2026-07-30. Earnings per share: $4.24 vs $3.31 expected. Revenue: $9.56 billion vs $8.61 billion expected.
See the full quarter, and how our tracked metrics did
Source: 8-K filing
Management has a perfect track record of clearing the bars they set for themselves, usually by a wide margin as the business outruns forecasts.
| Expectation | |
|---|---|
| EPS | $4.76 |
| Revenue | $10.65B |
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