KeyBanc raised its price target on Dycom Industries to $610 from $482 while maintaining an Overweight rating, citing blowout fiscal first-quarter 2027 results and an upbeat outlook. Dycom posted adjusted earnings per share of $4.42, up 84.9% year-over-year and well above the $2.72 forecast, while revenue rose 56.1% to $1.96 billion, exceeding the expected $1.67 billion. For the second quarter, the company expects revenue between $1.94 billion and $2.01 billion and adjusted earnings per share of $4.40 to $4.82, with full-year revenue projected at $7.38 billion to $7.65 billion. KeyBanc's optimism is driven by strength in Dycom's fiber-to-the-home market and expanding margins, and the firm plans to adjust estimates once Dycom closes its acquisition of NTI to enhance data center cabling capabilities.
Dycom Industries IncKeyBanc raised price target to $610 after Dycom reported blowout Q1 earnings and raised guidance.
KeyCorp