The U.S. electric grid needs a total body makeover. As growing power demands from data centers and artificial intelligence applications are driving unprecedented electricity demand, utilities are gearing up for a tidal wave of investments to expand and modernize the grid. Experts say it's one of the quickest ways to provide more electricity. The Edison Electric Institute, the industry's trade group, projects a massive jump in spending by U.S.
mountain MYR Group shares year to date. After MYR Group reported third-quarter results that showed its project activity was above expectations, Modak raised the firm's price target to $153 while reiterating a buy rating in a Nov. 3 report to clients. Modak's conviction lies in the challenged projects nearing completion by the end of 2024, which should create potential for revenue growth and operating margin expansion in its T & D and commercial and industrial segments.