Core Viewpoint - Centuri Holdings Inc. is identified as a promising investment opportunity, with a price target increase from Wells Fargo, despite anticipated sector slowdowns [1][3]. Financial Performance - In Q3 2025, Centuri Holdings reported revenue of $850 million, marking an 18% year-over-year increase, driven by a 25% rise in base revenue and a 28% increase in base gross profit [2]. - The company's backlog grew to $5.9 billion from $5.3 billion in the previous quarter, supported by $815 million in new bookings during Q3 [2]. Strategic Focus - Centuri Holdings is prioritizing higher-margin opportunities, particularly in data center projects, which offer better margins compared to traditional Master Service Agreements (MSAs) [3]. - The company has a $3 billion pipeline of strategic bids, consisting of $1.7 billion in new bid work and $1.3 billion in renewals, with a project distribution of 60% electrical and 40% gas [3]. Company Overview - Centuri Holdings operates as a utility infrastructure services company in North America, divided into four segments: US Gas Utility Services, Canadian Gas Utility Services, Union Electric Utility Services, and Non-Union Electric Utility Services [4].
Wells Fargo Boosts Centuri Holdings (CTRI) PT to $30 Despite Expected Sector Slowdown