Dycom Industries hits record high on upbeat forecast, $1.95 billion deal to buy Power Solutions
Shares of telecommunications contractor Dycom Industries DY.N rise 16% to a record high of $342
Co narrows FY26 revenue forecast range to $5.35 bln - $5.425 bln from previous estimate of $5.29 bln - $5.425 bln
DY also announces deal to acquire Power Solutions, a data center electrical contractor, valued at $1.95 billion
DY beats Q3 profit estimates, cites "accelerating fiber builds, a massive ramp-up in data center needs, and the much anticipated arrival of BEAD"
Broadband Equity, Access, and Deployment (BEAD) is a U.S. federal program to improve internet access in under-served areas
DY beats profit estimates for seventh straight quarter, as per LSEG data
All 9 brokerages rate the stock "buy" or higher; their median PT is $312.5 - LSEG
Including session's moves, DY up more than 90% YTD
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