Dycom Industries Inc. (DY) stock soared 5.07% in intraday trading on Thursday, outperforming the broader market. The surge came after the company reported robust Q3 fiscal 2025 earnings, bolstered by new customer awards and promising growth opportunities.
The telecommunications services provider posted a 12% year-over-year increase in revenue, reaching $1.272 billion, driven by organic growth of 7.6%. Dycom secured significant new awards and extensions from major customers like AT&T, strengthening its position in fiber-to-the-home and maintenance services.
Analysts at D.A. Davidson raised their price target for Dycom to $220 from $210, reflecting optimism about the company's prospects. Wells Fargo maintained a "Buy" rating, citing Dycom's involvement in AI, fiber expansion, and potential opportunities from the BEAD (Broadband Equity, Access, and Deployment) funding program.
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