USA: GLDD Receives Outperform Rating from Imperial Capital
Imperial Capital restated their outperform rating on shares of Great Lakes Dredge & Dock Corporation in a report released on Thursday. Imperial Capital currently has a $11.00 price objective on the stock.
“We are initiating coverage of GLDD shares with an Outperform rating and a one-year price target of $11, which is 32% above the recent price. As a leading provider of dredging services, we believe GLDD is well-positioned to benefit from a number of discrete catalysts that we expect to drive an up-lift in spending over the next few years, with a likely bias toward high-margin capital and coastal projects in the near-term. While visibility into a recovery in the Demolition segment remains low at this stage, we think expectations are as well, and that risk-reward remains favorable at current levels,” the firm’s analyst commented.
GLDD has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Great Lakes Dredge & Dock Corp. from an underperform rating to a neutral rating in a research note to investors on Monday, June 3rd. They now have a $8.50 price target on the stock.
Analysts at DA Davidson upgraded shares of Great Lakes Dredge & Dock Corp. from a neutral rating to a buy rating in a research note to investors on Thursday, April 18th.
Source: watchlistnews, June 25, 2013