$PRIM 0.55 Developing

Notable posts

• @wallstengine bullish 32 eng

  JPMorgan Upgrades $PRIM to Overweight from Neutral, Raises PT to $116 from $105 Analyst comments: "PRIM was the most topical stock in our conversations with investors last week at our eleventh annual J.P. Morgan Natural Resources Conference. After a disappointing 1Q earnings print on May 5, where the company reduced guidance due to cost overruns on six renewables projects, one previously called out on the 4Q call, and pushouts in new award activity, the company announced the departure of its head of renewables on June 8, prompting investor concerns of further deterioration in the renewables business. On June 22, just before our conference, these concerns came to fruition, with the company announcing a further guidance reduction and the departure of its chief operating officer after an independent review by an outside consultant found additional issues with the six renewable projects. We hosted the management team for a dinner, fireside chat, and several investor meetings at our conference last week, where they repeatedly expressed conviction that the updated guidance is conservative and de-risked, with extra “cushion” built in if things deteriorate further. However, given the pace of negative revisions over the last few months, many investors we speak to remain cautious around potential further risk to the renewables business, but with the stock now trading at a significant discount to peers and the other parts of the business continuing to perform well, we believe it is time for investors to take a step back and look at PRIM through a SOTP perspective." Analyst: Mark Strouse

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• @wallstengine bearish 28 eng

  Primoris Services $PRIM, an infrastructure construction services company, CUT FY26 guidance by roughly half after identifying cost overruns and delays on six Renewables projects, including fixed-price work where costs ran above expectations. New FY26 guide: Adj. EPS: $2.05-$2.60 vs. $4.80-$5.00 prior / $4.74 est. Adj. EBITDA: $275M-$325M vs. $480M-$500M prior / $477M est. EPS: $1.30-$1.85 vs. $4.05-$4.25 prior Most of the impact is expected in Q2. Other announcements: COO Jeremy Kinch departed immediately CEO Koti Vadlamudi will assume most COO duties during the search

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• @tenet_research neutral 23 eng

  Tenet Market Wake-Up Summary 📷📷 June.23.26 $SPX $NVDA $RKLB $QCOM $APLD $IBM $LLY $PLTR $ZETA $NOK $SMCI $AMC $AMZN $NI $GOOGL $BULL $KFY $SUNB $QGEN $CDW $SNPS $MSFT $CRM $ROST $NKE $DRI $ARMP $INFQ $PRIM $TTMI @ripster47 | @TENETTRADEGROUP | @TenetCharts https://t.co/2ZKQa2q6NJ

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