Is Clear Street’s Focus on T&D Margins Reframing MYR Group’s (MYRG) Long-Term Growth Story?

• Earlier in December 2025, Clear Street initiated coverage on MYR Group with a Buy rating, citing nearly 10% sales growth driven by the Transmission & Distribution segment and pointing to recent third-quarter earnings that exceeded revenue and EPS expectations.
• The firm’s view that larger T&D project wins and accretive acquisitions could support further operational gains adds an extra layer of interest for investors assessing MYR Group’s growth runway.
• Now we’ll examine how Clear Street’s bullish focus on Transmission & Distribution growth and margin improvement may reshape MYR Group’s investment narrative.

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MYR Group Investment Narrative Recap

To own MYR Group, you need to believe that long term spending on grid upgrades and electrification will sustain profitable growth in its Transmission & Distribution business. Clear Street’s upbeat initiation reinforces that story, but it does not materially change the key short term catalyst, which is continued outperformance in T&D margins, or ease the biggest risk right now that heavier reliance on core utility and industrial demand could backfire if those customers pull back.

The most relevant recent development for this new coverage is MYR Group’s strong Q3 2025 earnings, with US$950.4 million in sales and a sharp rebound in net income and EPS. That performance helps support Clear Street’s focus on margin improvement and larger T&D project wins as potential earnings drivers, but it also raises the stakes if labor cost inflation and project inefficiencies start to eat into that improved profitability in coming quarters.

Yet behind the growth story, investors should be aware of the risk that rising labor costs and tight skilled labor markets could...

Read the full narrative on MYR Group (it's free!)

MYR Group's narrative projects $4.3 billion revenue and $157.2 million earnings by 2028. This requires 8.0% yearly revenue growth and roughly a $80.8 million earnings increase from $76.4 million today.

Uncover how MYR Group's forecasts yield a $240.60 fair value, a 13% upside to its current price.

Exploring Other Perspectives

Two fair value estimates from the Simply Wall St Community cluster between US$215.80 and US$240.60, highlighting how differently individual investors view MYR Group’s worth. Set against Clear Street’s focus on Transmission & Distribution growth and margin expansion, these varied views underline why you may want to weigh multiple risk and demand scenarios before forming your own expectations for the business.

Explore 2 other fair value estimates on MYR Group - why the stock might be worth as much as 13% more than the current price!

Build Your Own MYR Group Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your MYR Group research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.
• Our free MYR Group research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate MYR Group's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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