On July 9, Sterling Infrastructure rose 8.33% in regular trading, trading at $708.86/share, with turnover of $48.84 million. The rally was driven by the company's announcement on July 8 that it amended its credit agreement to expand its revolving borrowing capacity to $1.5 billion.

The updated terms extend the facility maturity to July 2031, lower overall pricing margins, and expand the baseline incremental facility to $500 million from $400 million. The company stated that proceeds will be used to pay off older debt, fund corporate acquisitions, and support general corporate purposes. The expanded credit facility reinforces Sterling's aggressive acquisition strategy, following its recent completion of the Stone Ridge Contracting acquisition in June and its CEC Facilities Group deal, both aimed at strengthening its E-Infrastructure Solutions segment serving data center and hyperscaler markets.

The move also comes amid strong fundamental momentum, with Q1 adjusted EPS of $3.59 beating consensus estimates by nearly 79%, and Oppenheimer recently initiating coverage with an Outperform rating and a $950 price target.

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