Posted on January 23, 2026
DredgeWire: Just saying! Right after DredgeWire published its lead story last Thursday about the strong performance of the stocks in our DredgeWire index, JP Morgan issued its own report endorsing GLDD and Orion. Guess we were on to something!
Great Lakes Dredge & Dock (GLDD) +8% in Thursday’s trading to its highest in more than four years as J.P. Morgan initiated coverage with an Overweight rating and year-end $20 price target, saying the largest U.S. dredging contractor is “entering a multi-year upcycle driven by record government infrastructure spending, a $1B-plus backlog, and expansion into offshore energy.”
The company’s strong backlog provides strong revenue visibility into 2026, while a shift toward higher-margin capital projects and disciplined cost management is enhancing profitability, and fleet upgrades should further support margin expansion, JPM analyst Tomohiko Sano said.
Great Lakes‘ (GLDD) entry into offshore energy “creates a new growth vertical, positioning it to benefit from the global energy transition,” Sano wrote, expecting double-digit EPS growth ahead and viewing the stock’s risk/reward as attractive given robust demand and operational momentum.
Orion Group (ORN) +14.8% after JPM initiated the marine services company at Overweight with a $16 PT, calling it “a pure-play beneficiary of historical U.S. infrastructure and data center construction cycles.”
Orion‘s (ORN) “macro exposure, and its improving operational trajectory under new leadership, will support sustained revenue growth and margin expansion,” Sano said.
DredgeWire Stock Index – https://dredgewire.com/stocks/
