2Q E&C Preview: Strong Demand Intact; Operational Execution Is the Differentiator

研报英文原文证据摘录

2Q E&C Preview: Strong Demand Intact; Operational Execution Is the Differentiator

Power Technology

EQUITY RESEARCH Industry Report

July 15, 2026

2Q E&C Preview: Strong Demand Intact; Operational

Companies mentioned

Ticker Price Rating Target Execution Is the Differentiator

AMRC $24.68 Overweight $44.00

CTOS $10.45 Overweight $13.00 Takeaways

CTRI $27.02 Overweight $46.00 Heading into 2Q results, we remain constructive on the E&C

DY $428.77 Overweight $654.00 group, supported by sustained investment in power generation,

ECG $138.46 Neutral $174.00 grid modernization, data centers, advanced manufacturing, fiber, and

EME $769.72 Overweight $1,123.00 reshoring. Post-1Q commentary and our June Houston management

MTZ $357.71 Overweight $581.00 meetings indicate the cycle is broadening and moving up the value chain.

MYRG $414.98 Overweight $564.00

POWL $247.01 Neutral $320.00 Customer requirements are also becoming broader and more integrated.

PRIM $90.67 Neutral $100.00 Contractors are increasingly being asked to provide combinations of

PWR $648.84 Overweight $901.00 site development, generation, fuel infrastructure, grid interconnection,

STRL $668.82 Overweight $956.00 electrical & mechanical systems, communications, prefabrication,

Research Analysts: equipment, and ongoing services. Grid limitations are adding another layer

Manish A. Somaiya to the opportunity, as data center and industrial customers pursue behind-

212-915-1051 the-meter and hybrid power solutions to accelerate time to energization

Manish.Somaiya@Cantor.com while awaiting full utility service. These strategies should create additional

scope across generation, pipelines, substations, switchgear, electrical

systems, controls, and eventual grid interconnection, but they remain