We raise our price target to $59 (from $55), as we lift estimates following a strong 2Q:25 performance that demonstrated improved operational execution showed that NWPX is effectively navigating through trade and cost uncertainties. 2Q:25 results featured record quarterly revenue, along with better-than-expected margins, despite trade challenges and slower demand improvement in the nonresidential portion of the Precast segment. Following last quarter's announcement of a corporate rebranding of NWPX Infrastructure, the company also rebranded the SPP segment as Water Transmission Systems (WTS), reflecting the expanded portfolio that goes beyond steel pipe solutions. We raise our estimates given WTS backlog suggesting sustained strength, and increased confidence that NWPX is navigating cost pressures; we also note potential upside if nonresidential demand improves for the Precast segment. NWPX repurchased $15 million of shares from April to July, or just under 4% of shares outstanding. Our moderate risk rating reflects NWPX conservative financial profile. Our raised $59 price target (from $55) is based on a steady 15x our modestly increased 2026 EPS estimate of $3.93 (from $3.68).