Why KeyBanc Sees Advanced Drainage As A Top ESG Stock: Revenue And EPS Predictions For FY24 And FY25
Portfolio Pulse from Lekha Gupta
KeyBanc Capital Market analyst Jeff Hammond initiated coverage on Advanced Drainage Systems Inc (NYSE:WMS) with an Overweight rating and a price target of $150. Hammond sees WMS as a highly attractive pure-play water management business that consistently delivers above-market returns. He expects the company to deliver +200-300 bps of market outgrowth in the long-term. For FY24, Advanced Drainage expects net sales of $2.60 billion-$2.80 billion and adjusted EBITDA of $725 million- $825 million. KeyBanc thinks WMS has the most attractive ESG story among the stocks in its coverage.
July 24, 2023 | 5:41 pm
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KeyBanc has initiated coverage on Advanced Drainage Systems Inc (WMS) with an Overweight rating and a price target of $150. The company is expected to deliver above-market returns and significant market outgrowth in the long-term.
The Overweight rating and high price target given by KeyBanc indicate a positive outlook for WMS. The company's expected above-market returns and market outgrowth, along with its attractive ESG story, are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100