Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
New Awards of $61 Million - Increasing Price Target
Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only's operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Four awards for $60.9 million to be included in year-end 2020 backlog. The four awards (three maintenance and one coastal protection) include a total work of $60.9 million in Florida and Georgia. Three of the four awards should be completed in 1Q2021 and the fourth extending out into 3Q2021.
Dredging market outlook remains solid and potential infrastructure spending creates tailwind. The awards are positive signals after the loss on the Spanish Ridge work in Louisiana in December. Other positives include stronger global LNG prices that could help move the NextDecade (NEXT) LNG project to FID and the potential higher infrastructure spending in fiscal stimulus plans ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.