Sterling Construction (NASDAQ: STRL) stock surged over 6% in pre-market trading on Thursday following an analyst upgrade and solid earnings results.
DA Davidson analyst Brent Thielman raised his rating on Sterling Construction to Buy from Neutral, while maintaining a price target of $185. The upgrade likely drove increased buying interest in the stock ahead of the market open.
Additionally, Sterling Construction reported robust full-year 2024 earnings on Wednesday, with net income soaring 86% year-over-year and profit margins expanding to 12% from 7% in 2023. Earnings per share of $8.35 exceeded analyst expectations, further boosting investor sentiment towards the construction company.
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