Zacks Investment Research upgraded shares of Emcor Group, Inc. (EME) from UNDERPERFORM to NEUTRAL on February 07, 2014, with a target price of $42.00.
Emcor Group, Inc is a leading construction and manufacturing company specializing in electrical facilities, energy infrastructure and LEED construction. We have upgraded our recommendation on Emcor Group from Underperform to Neutral with a target price of $42. In the last reported quarter, Emcor's earnings had declined 22.6% year over year. Furthermore, the company's organic growth has been continuously declining. Also, weak performance of the industrial services segment remains a concern. However, Emcor's recent credit agreement greatly increases its liquidity and is aiding the company to stabilize its cash position. In Dec, the company also announced an increase in quarterly dividend and also initiated a share repurchase plan.
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