Jefferies cuts target for MYR Group stock to USD 370.00

Published on 10/08/2026 at 19:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue reached USD 1.08 billion, up 20.10 percent year over year. MYR Group stock costs EUR 273.65 on October 8, 2026 versus EUR 279.65.

Key points in brief

Jefferies upgraded MYR Group to Buy but cut its target from USD 377.00 to USD 370.00 on October 6, 2026.
Second-quarter revenue reached USD 1.08 billion in the quarter ended June 30, 2026, up 20.10 percent year over year.
MYR Group stock was trading at EUR 273.65 at Lang & Schwarz on October 8, 2026, down 2.15 percent from its prior close.

MYRG, US55405W1045, Illustration mit AI erstellt.

MYR Group (ISIN US55405W1045) was trading at EUR 273.65 at Lang & Schwarz on October 8, 2026 at 7:46 p.m. CEST, down 2.15 percent versus EUR 279.65. On October 6, 2026, Yahoo Finance reported that Jefferies upgraded the stock from Hold to Buy while cutting its target from USD 377.00 to USD 370.00.

Three dates shape the story

On July 1, 2026, MYR Group acquired Valley Holdings I for USD 328.0 million, funded with USD 93.0 million in cash and USD 235.0 million in new borrowings, according to MetaTrader. On July 29, 2026, the company reported USD 1.08 billion of contract revenue for the second quarter ended June 30, 2026, up 20.10 percent year over year, with diluted earnings per share of USD 3.17.

The June 30 report also showed USD 49.85 million of net income and a 13.20 percent gross margin for the second quarter, according to MetaTrader. On October 6, 2026, Jefferies made the latest dated change in the sequence by raising its rating but lowering its target.

What does the target cut mean?

The Jefferies move separates the rating from the valuation: the recommendation rose from Hold to Buy, while the target fell by USD 7.00, or 1.86 percent from USD 377.00. The target change is also more restrained than the broader view shown by MarketBeat, which listed a USD 446.80 average target and a Moderate Buy consensus based on eight analysts.

Next earnings date is October 28

Yahoo Finance lists October 28, 2026 as MYR Group's estimated next earnings date. That report will test whether the second-quarter combination of USD 1.08 billion in revenue and a 13.20 percent gross margin carried into the third quarter.

MYRG remains below its prior close

MYR Group was trading at EUR 273.65 at Lang & Schwarz on October 8, 2026 at 7:46 p.m. CEST, down 2.15 percent from the EUR 279.65 prior close on October 7, 2026. Its market capitalization was USD 4.8 billion as of October 8, 2026, while the Nasdaq-listed company operates in the Industrials sector and Engineering and Construction industry.

The further course of trading is shown by the continuously updated real-time quote of MYR Group stock.