Sterling Infrastructure, Inc. (NASDAQ:STRL) is one of the High-Flying Stocks to Buy Right Now. On January 23, Cantor Fitzgerald initiated coverage of the company’s stock with an “Overweight” rating and a price objective of $413, as reported by The Fly. As per the analyst, the broader Engineering & Construction sector is expected to witness a multi-year investment cycle. This is backed by electrification, grid modernization, energy transition initiatives, as well as elevated levels of power demand due to the data centers and reshoring.
Also, higher utility capex has been resulting in record backlogs. This offers robust near-term revenue visibility as well as a durable long-term project pipeline. The firm opines that Sterling Infrastructure, Inc. (NASDAQ:STRL) is a transformed infrastructure contractor, which transitioned its portfolio towards higher-margin, mission-critical markets, such as semiconductors, data centers, and advanced manufacturing.
Sterling Infrastructure, Inc. (NASDAQ:STRL)’s acquisition of CEC enhances its integrated site development as well as electrical capabilities. This helps in broadening the scope, improving the project sequencing, and aiding incremental margin synergies.
Sterling Infrastructure, Inc. (NASDAQ:STRL) is engaged in the provision of e-infrastructure, transportation, and building solutions.
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Disclosure: None. This article is originally published at Insider Monkey.
