Truist initiates on Cardinal Infra with 'buy'; shares rise

Truist said Cardinal Infrastructure’s acquisition-led consolidation strategy could drive growth and expand its footprint into new markets at attractive valuations. The brokerage cited substantial expansion potential across the Southeast and said recent share weakness masked a longer-term growth opportunity.

Five brokerages cover the stock, all rating it “buy” or higher; the median price target is $53.50. Including the session’s move, shares were up 15.5% year to date.