Montrose Environmental Has First Mover Advantage: Analyst Foresees Growth With Matrix Solutions Buyout
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst James Ricchiuti reiterated a Buy rating on Montrose Environmental Group (NYSE:MEG) with a price target of $54. The recent acquisition of Matrix Solutions expands MEG's operating footprint in Canada and adds a large team of environmental specialists. The analyst believes MEG's first-mover advantage will be difficult for competitors to replicate.
June 09, 2023 | 7:05 pm
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Montrose Environmental Group's acquisition of Matrix Solutions expands its Canadian footprint and adds a large team of environmental specialists. Needham analyst reiterates Buy rating with a $54 price target.
The acquisition of Matrix Solutions expands MEG's operating footprint in Canada, adding a strong environmental brand and a large team of specialists. This first-mover advantage is expected to be difficult for competitors to replicate, which could lead to growth and a positive short-term impact on MEG's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100