Jefferies cuts target for Primoris Services stock to USD 99.00

Published on 10/08/2026 at 18:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue fell 10.70 percent year over year in the second quarter. Primoris Services stock stood at EUR 72.30 on October 8, 2026 after EUR 73.38.

Key points in brief

Jefferies lowered its Primoris Services target from USD 100.00 to USD 99.00 on October 8, 2026, while keeping Buy.
Five of six challenged utility-scale solar projects had reached mechanical completion by September 28, 2026.
Primoris Services stock was at EUR 72.30 at Lang & Schwarz on October 8, 2026, down 1.47 percent versus EUR 73.38.
Second-quarter revenue fell 10.70 percent year over year to USD 1.69 billion.

PRIM, US74164F1030, Illustration mit AI erstellt.

Primoris Services (ISIN US74164F1030) was at EUR 72.30 in the after-hours session at Lang & Schwarz on October 8, 2026 at 6:31 p.m. CEST. On the same date, Investing.com reported that Jefferies cut its target from USD 100.00 to USD 99.00 while retaining a Buy rating.

Three dates shape the setup

On August 4, 2026, Primoris reported second-quarter revenue of USD 1.69 billion, down 10.70 percent year over year, according to Business Wire. The company also recorded a diluted loss of USD 0.45 per share for the quarter in the financial statement data, while the reported release cited a loss of USD 0.27 per share on an adjusted basis.

On September 28, 2026, five of six challenged utility-scale solar projects had reached mechanical completion, and the remaining project was expected to reach that milestone in the fourth quarter, Business Wire reported.

On October 8, 2026, Jefferies lowered its target to USD 99.00 from USD 100.00. The change places execution risk at the center of the valuation debate rather than treating the renewables issues as fully resolved.

What does the target cut mean for execution?

Jefferies linked its view to the final challenged solar project and its expected mechanical completion in the fourth quarter. Its report also pointed to continued margin pressure in renewable projects, while gas generation, power delivery, pipelines, and electrical work were becoming more important growth areas.

The second-quarter comparison shows the pressure clearly: revenue declined 10.70 percent year over year to USD 1.69 billion, even as the company highlighted record backlog and natural gas generation bookings. For investors, the key test is whether project completion allows margins to stabilize while the non-renewables backlog expands.

Next dates for shareholders

Primoris declared a quarterly dividend of USD 0.08 per share payable on October 15, 2026, according to MarketBeat. The next earnings date is listed as November 2, 2026 by ToAlpha.

EUR 72.30 after-hours quote

Primoris Services was at EUR 72.30 at Lang & Schwarz on October 8, 2026 at 6:31 p.m. CEST, down 1.47 percent versus the prior close of EUR 73.38. Its market capitalization was USD 4.4 billion as of October 8, 2026.

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