EMCOR Group (EME) Starts Coverage With A Bold Call On Infrastructure Growth

With a short percentage of shares outstanding of 2.33%, EMCOR Group, Inc. (NYSE:EME) is among the 7 Best Electrical Contracting Stocks to Buy for Data Hall Fit-outs.

On May 28, Brent Thielman, analyst of Oppenheimer, initiated coverage of EMCOR Group, Inc. (NYSE:EME) with an Outperform rating and a $1,100 price target. The firm views EMCOR as one of the higher-quality publicly traded infrastructure services companies, citing its significant exposure to accelerating investment in high-tech manufacturing projects and data center development. Oppenheimer also believes the company has the characteristics of a long-term compounder, supported by potential acquisition opportunities and strong end-market demand.

On April 30, Baird raised its price target on EMCOR Group, Inc. (NYSE:EME) to $900 from $808 while maintaining an Outperform rating on the shares. Following the company’s first-quarter results, the firm updated its financial model and noted that management’s guidance continues to appear relatively conservative despite the company’s strong operating performance.

Founded in 1979 and headquartered in Norwalk, Connecticut, EMCOR Group, Inc. (NYSE:EME) is a major electrical contractor that designs and builds the critical infrastructure for data halls by providing specialty electrical systems, high-capacity power distribution, backup generators, and cooling networks required to operate modern data centers. It ranks fourth in the list of best electrical contracting stocks to buy for data hall fit-outs.

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