On June 3, Sterling Construction Company rose 5.02% in regular trading, trading at $942.41/share, with trading volume of approximately $199 million. The stock is now approaching the $950 target price set by Oppenheimer.

On the news front, Oppenheimer recently initiated coverage of Sterling Infrastructure with an Outperform rating and a $950 price target, representing approximately 16% upside at the time of initiation. The brokerage highlighted that Sterling has transformed into a leading specialty services provider through its acquisition of CEC Facilities Group, which positions the company to pursue larger projects and build backlog. Oppenheimer noted that data center site development services for major hyperscalers contribute over 20% operating margins, while the e-infrastructure backlog indicates high-margin revenue ahead. The company reported solid quarterly EPS of $3.39 in its most recent earnings release, reinforcing the bullish thesis around sustained infrastructure demand tied to data center expansion.

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