USA: Imperial Capital Analysts Begin Coverage of GLDD

Zolmax News reports that research analysts at Imperial Capital have assumed coverage of shares of Great Lakes Dredge & Dock (GLDD) in a report released earlier this week.

“As the leading provider of dredging services in the US, we believe Great Lakes Dredge & Dock is well positioned to benefit from favourable fundamentals in the dredging space,” the analyst said.

“We expect increased spending in the US dredging market over the next few years, driven by a catch-up in maintenance dredging after years of continual under investment and the need to deepen ports to accommodate Post-Panamax ships once the Panama Canal expansion is compete.

“If passed, current legislation in Congress related to fully designating the Harbor Maintenance Trust dredging bid market by as much as 50 per cent.”

[mappress]

Dredging Today Staff, May 16, 2012;