Cantor Daily Research Highlights

Research evidence excerpt

Cantor Daily Research Highlights

tered in The Woodlands, Texas, it provides diversified civil,

site-development, and specialty construction services to public and private end-markets across the United States. (Source:

Cantor Research)

Relevant Research

■ Primoris Services Corporation (PRIM) PRIM: Modeling the Path Through the Renewables Reset (Published 5/18/2026)

■ Industry Note: Power Technology: E&C 1Q26 Recap: The Backlog Boom Starts to Convert; PM's Summary (Published

5/11/2026)

■ Centuri Holdings, Inc. (CTRI): CTRI 1Q26/Mgmt. Call-Back: Don’t Over-Read the Softest Quarter; Reiterating OW &

Raising PT (Published 5/8/2026)

■ Sterling Infrastructure, Inc. (STRL): STRL 1Q26/Mgmt. Call-Back: The Tidal Wave Is Here; Capacity Not Demand is the

Limiting Factor (Published 5/8/2026)

■ Industry Note: Power Technology: A Structurally Strong Cycle with Near-Term Macro Cross-Currents (Published

1/22/2026)

Please contact your Cantor Sales Rep if interested!

May 20

EMCOR Group, Inc. (EME, $854.36, Overweight, Price Target: $1,123.00)

Manish A. Somaiya (212-915-1051, Manish.Somaiya@Cantor.com)

Cantor Hosting: EMCOR Group, Inc. (EME) Non-Deal Roadshow - Group Dinner | June 15 (NY)

Quick Take

Healthcare Services:

Sarah James (212-829-5203, Sarah.James@cantor.com)

Launching 2028 Estimates; Keeping Numbers Conservative but Optimistic on Upside from Pricing

Cycle Recovery

We are launching our 2028 estimates for payors & providers that ultimately favor the 2Y path for payors. Payor multiples

materially compressed over the past two years while providers hit valuation highs. Our 2028 estimates & assumptions show

reasonable paths to margin recovery across multiple insurance lines that, in our view, warrant interest back in the stocks.