Jefferies cuts Primoris target to USD 99: Primoris Services stock sits 27.15 percent below target
Published on 10/20/2026 at 20:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst target and results
- Jefferies cut its Primoris target to USD 99.00 on October 8, 2026.
- Second-quarter 2026 revenue fell 10.70 percent to USD 1.69 billion.
- Primoris Services stock costs EUR 64.14 at Lang & Schwarz on October 20, 2026 at 8:35 p.m. CEST.
- Primoris reported a USD 3.9 billion market capitalization as of October 20, 2026.
Primoris Services Corporation (ISIN US74164F1030) trades at a target discount after Jefferies lowered its price target to USD 99.00 from USD 100.00 on October 8, 2026, while maintaining a Buy rating, according to Investing.com. Against the NYSE quote of USD 72.12 on October 20, 2026, the target was 37.29 percent above the price. At Lang & Schwarz, the euro quote stood at EUR 64.14 on October 20, 2026 at 8:35 p.m. CEST.
Revenue fell in the second quarter
Primoris reported revenue of USD 1.69 billion for the second quarter of 2026, down USD 202.50 million, or 10.70 percent, from the second quarter of 2025. The company posted a net loss of USD 24.20 million and diluted loss per share of USD 0.45 for the period, according to Business Wire.
The results put the target reduction in context. Revenue declined year over year, while the operating result was negative at USD 26.80 million in the second quarter of 2026. Primoris also held USD 218.20 million in cash at June 30, 2026.
Stock remains above its yearly low
Primoris last traded at USD 72.12 on the NYSE on October 20, 2026 at 2:37 p.m. ET, down 3.21 percent from the prior close of USD 74.51. The stock was above its 52-week low of USD 65.00 and below its 52-week high of USD 205.50 on that date. The market capitalization was USD 3.9 billion.
The valuation gap across the group is wide. Primoris had a price-to-earnings ratio of 28.40, compared with 68.11 for Quanta Services and 29.89 for MasTec on October 20, 2026. Their market capitalizations were USD 89.4 billion and USD 15.1 billion, respectively.
Valuation and analyst dates
The latest consensus cited by MarketBeat on October 17, 2026 comprised 10 Buy ratings and seven Hold ratings among 17 analysts, with an average 12-month target of USD 123.47. That target was 41.49 percent above the NYSE price of USD 72.12 on October 20, 2026.
Primoris had also announced on September 28, 2026 that five of six challenged utility-scale solar projects had reached mechanical completion, with the remaining project expected to reach that stage in the fourth quarter. The update also described USD 100.0 million of common stock purchases during the third quarter.
Euro quote after the Xetra session
The euro quote gives German investors a separate trading reference from the NYSE price. Primoris operates in engineering and construction, with activities spanning utilities, energy, renewables and pipeline services.
The further course of trading is shown by the continuously updated real-time quote of Primoris Services stock.
Primoris Services Corporation at a glance
- Company: Primoris Services Corporation
- ISIN: US74164F1030
- Ticker: PRIM
- Primary exchange: NYSE
- Price Lang & Schwarz as of October 20, 2026, 8:35 p.m. CEST: EUR 64.14
- Market capitalization: USD 3.9 billion (as of October 20, 2026)
- 52-week range: USD 65.00-205.50 (as of October 20, 2026)
- Sector / Industry: Industrials / Engineering and Construction
Market context: Market report S&P 500.
