Infrastructure and Energy Alternatives Inc. (NASDAQ:IEA) broke out on 25 September at 5.13 and confirmed on 11 January at 21.50, thus garnering an HeffX-LTN buy rating with a 30 price target mid-term.
The Key support is 13.80 and there is no overhead resistance.
Caveat: Our Buy rating assumes growth on a shift in federal economic policy could lead to growth in earnings going forward. Sans that we are managing the risk carefully.
Shares closed Monday at 21.50 against its 52 wk trading range of 1.63 – 24.13 and have a consensus price target of 13.00.
Infrastructure and Energy Alternatives, Inc., through various subsidiaries, operates as a diversified infrastructure construction company in the United States.
The company engages in providing engineering, procurement, and construction (EPC) services for the renewable energy, traditional power, and civil infrastructure industries.
It operates in 2 segments, the Renewables and the Specialty Civil.
The Renewables segment specializes in a range of services that include full EPC project delivery, design, site development, construction, installation, and restoration of infrastructure services for the wind and solar industries.
The Specialty Civil segment offers a range of services that comprise heavy civil construction services, such as road and bridge construction, specialty paving, and industrial maintenance, as well as other local, state, and government projects, environmental remediation services, including site development, environmental site closure, and outsourced contract mining and coal ash management services, and rail infrastructure services consisting of planning, creation, and maintenance of infrastructure projects for railway and intermodal facilities construction.
The company was founded in Y 1947 is HQ’d in Indianapolis, Indiana.
Have a healthy day, Keep the Faith!