Sterling Construction Company (STRL) shares surged 6.21% in the last 24 hours amid the trading session on Wednesday. This strong rally came after DA Davidson analyst Brent Thielman upgraded the stock to a Buy rating from Neutral.
Thielman maintained his price target of $185 on the construction company. While specific reasons for the upgrade were not disclosed, analyst upgrades to Buy typically signal increased confidence in a company's prospects and act as a bullish catalyst for the stock.
The sharp rise in Sterling Construction's shares highlights the significant impact that analyst rating changes can have on stock prices, as investors closely monitor analyst recommendations and adjust their positions accordingly.
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