2020-05-01 07:50:09 EME Emcor
05/01/20 05/0107:50 05/01/2007:50 | Emcor downgraded to Neutral from Buy at DA DavidsonDA Davidson analyst Brent Thielman downgraded Emcor to Neutral from Buy with a price target of $70, down from $100. The analyst notes that the near-term COVID-19 related challenges will eventually abate, with the company's current book of business supporting some visibility for the rest of the year. Thielman warns however that bookings will still ultimately slow and result in greater uncertainty in 2021. The analyst adds that he anticipates at least some headwinds to Emcor valuation expansion as economic indicators deteriorate, stating that construction indicators could soon follow. |
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