Dycom price target raised to $485 from $420 at B. Riley

Core Viewpoint - B. Riley has raised the price target for Dycom (DY) to $485 from $420 while maintaining a Buy rating on the shares [1] Financial Performance - Dycom achieved a record operating cash flow of $642.5 million and free cash flow of $435.3 million for FY26, representing year-over-year increases of 84% and 216% respectively [1] - The significant growth in cash flow is attributed to higher EBITDA margins and improved working capital efficiency [1] Market Position - Despite operating in a concentrated telecommunications market with increased end-market volatility, Dycom's scale allows for strong margin expansion during this cyclical growth period [1]