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Goldman Sachs Slashes Price Target for MYR Group to $422

Guavy AI Editorial Team
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Goldman Sachs has reduced its price target for MYR Group () to $422 from $469 while maintaining a Neutral rating on the stock.

The firm lowered its valuation multiple to 16.5 times next-twelve-month EV/EBITDA from 18.5 times, reflecting broader AI and power market multiples.

MYR Group's PEG ratio of 0.26 suggests it is trading at a low P/E ratio relative to near-term earnings growth, according to InvestingPro analysis.

The stock currently trades at $332.68, down 34% from its 52-week high of $503.56, though it has delivered a strong 71% return over the past year.

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