Construction firm Tutor Perini jumps on S&P SmallCap inclusion
BUZZ-Construction firm Tutor Perini jumps on S&P SmallCap inclusion ** Infrastructure contractor Tutor Perini's TPC.N shares up 6.7% before the bell on Tues at $85.93 as co poised to join S&P SmallCap 600 index .SPCY
** TPC to replace Krystal Biotech KRYS.O in SPCY effective Fri, Jul 24, S&P Dow Jones Indices said late Mon
** KRYS migrating to S&P MidCap 400 index .IDX to replace homebuilder Taylor Morrison TMHC.N, which is being acquired by Berkshire Hathaway BRKa.N
** Shares of KRYS up 0.2% at $340.06 before the bell
** Stephens analyst Melissa Roberts said in a note she expects passive funds will need to buy 6 mln TPC shares, which implies about 11 days of buying demand
** Sylmar, California-based TPC has ~52.6 mln shares outstanding for $4.2 bln market cap
** At Mon close, TPC stock up 20% YTD
** All 5 brokerages covering the stock are bullish and their median PT is $118, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))