Everus (ECG) Price Target Raised on Record Backlog Growth

Everus Construction Group Inc. (NYSE:ECG) ranks among the recent spin-off companies that hedge funds are piling into. On February 26, Freedom Capital Markets boosted its price target for Everus Construction Group Inc. (NYSE:ECG) to $138 from $110, while maintaining a Buy rating on the company’s shares. The firm reported earnings and revenue that exceeded forecasts, as well as a record backlog, indicating strong insight and capacity efficiency in 2026.

Everus Construction Group Inc. (NYSE:ECG) reported earnings per share of $1.08, which was 56.52% greater than the expected $0.69. Meanwhile, revenue for the quarter came in at $1.01 billion, a 33% increase from the prior year.

The same day, Cantor Fitzgerald raised its price target on Everus Construction Group Inc. (NYSE:ECG) to $115 from $97 while retaining a Neutral rating on the company’s shares. The adjustment came after the firm’s conversations with Everus CEO and CFO. Management stated that underlying end-market conditions remain favorable, notably in the data center, transmission, and distribution areas.

Everus Construction Group Inc. (NYSE:ECG) provides contracting services in the US. It operates through two segments: Electrical & Mechanical (E&M) and Transmission & Distribution (T&D). It serves utilities, manufacturing, transportation, commercial, industrial, institutional, renewables, and governmental customers.

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