Truist initiates on Cardinal Infra with 'buy'; shares rise

Cardinal Infrastructure

25/09/2026 15:20

** Truist initiates coverage on construction services firm Cardinal Infrastructure's CDNL.O with a "buy" rating
** Shares up 1.9% to $28.1 in choppy trading
** Brokerage sees co's acquisition-led consolidation strategy driving growth while expanding its footprint into new markets at attractive valuations
** Cites substantial expansion potential across the Southeast, viewing recent share weakness as masking a longer-term growth opportunity
** Five brokerages covering the stock rate it "buy" or higher; median PT is $53.5
** Including session's move, stock up 15.5% YTD

(Reporting by Anand Gopal in Bengaluru)
((AnandGopal.R@thomsonreuters.com))