MYR Group shares are trading higher after Jefferies upgraded the stock from Hold to Buy.

Shares of data center infrastructure-related companies are trading higher after Google and Constellation energy announced a 20-year partnership to bring 890 MW of nuclear power online, which helps underpin strong demand for future compute buildout. Also, Baird initiating coverage of Modine Manufacturing with an Outperform rating and a $300 price target further supports the sector.

Jefferies Upgrades MYR Group to Buy, Lowers Price Target to $370

Jefferies analyst Julien Dumoulin-Smith upgrades MYR Group (NASDAQ:MYRG) from Hold to Buy and lowers the price target from $377 to $370.

MYR Group's Backlog Hits Record in Q2: Can the Growth Trend Continue?

MYR Group achieved a record backlog of $3.16 billion in Q2 2026, up 19.6% year-over-year, driven by strong demand in transmission/distribution and commercial/industrial segments. The company's recent acquisitions of Valley Electric and Comet Electric are expected to expand capabilities and geographic reach. Strong end-market fundamentals in power infrastructure support continued growth, though project execution and cost pressures remain risks.