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Tuesday, Jul 2
Underwriter coverage day is proving kind to Textura (TXTR +8.8%), which is making new post-IPO...
Underwriter coverage day is proving kind to Textura (TXTR +8.8%), which is making new post-IPO highs after Oppenheimer, William Blair, Credit Suisse, and Barrington Research all rate the provider of cloud-based construction industry software an Outperform. Oppenheimer declares Textura's software to be "disrupting the collaboration-intensive commercial construction market" by replacing spreadsheets and on-premise apps, and thinks its addressable market (estimated value of ~$1.2B) should triple over the next few years, given it's "on the cusp of a major expansion cycle after a lengthy downturn." Shares are up 99% from their June 7 IPO price of $15.