- Granite Construction secures $3 million project phase with Tahoe City Public Utility District.
- Analysts predict an average upside of 13.70% from the current stock price.
- GuruFocus estimates indicate a potential downside of 24.36%.
Granite Construction Incorporated (GVA, Financial) has been awarded the initial $3 million contract for the Tahoe Cedars Water Reconstruction Project by the Tahoe City Public Utility District. This initial phase marks the beginning of a major construction effort, with the main project valued at $60 million set to commence in 2026 and complete by 2029. Following this announcement, Granite's shares experienced a modest after-hours increase of 0.57%.
Wall Street Analysts' Insights
According to estimates from 4 analysts, the one-year price target for Granite Construction Inc (GVA, Financial) averages at $101.75. This forecast includes a high estimate of $118.00 and a low estimate of $76.00. These projections suggest a potential upside of 13.70% from the current trading price of $89.49. For more comprehensive forecast data, please visit the Granite Construction Inc (GVA) Forecast page.
Analyst Recommendations
From the perspective of three brokerage firms, the average recommendation for Granite Construction Inc (GVA, Financial) currently stands at 2.7, indicating a "Hold" status. This recommendation scale ranges from 1 to 5, where 1 signifies a Strong Buy while 5 represents a Sell.
GuruFocus Valuation Analysis
Based on GuruFocus metrics, the estimated GF Value of Granite Construction Inc (GVA, Financial) over the next year is $67.69, pointing to a potential downside of 24.36% from the current stock price of $89.49. The GF Value is GuruFocus' interpretation of a stock's fair value, determined by examining historical trading multiples, past business growth, and future business performance forecasts. For additional data and analysis, visit the Granite Construction Inc (GVA) Summary page.
