Gregory Lewis, an analyst from BTIG, maintained the Buy rating on Legence Corp. Class A. The associated price target was raised to $45.00.
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Gregory Lewis has given his Buy rating due to a combination of factors that highlight Legence Corp.’s strong financial performance and strategic growth initiatives. The company’s recent earnings report showed an impressive EBITDA that exceeded market expectations by a significant margin, driven by robust revenue growth in key segments such as Installation & Maintenance and Engineering & Consulting. This growth is particularly notable in high-demand markets like data centers and technology, which are expected to continue expanding.
Additionally, Legence Corp.’s strategic acquisitions, including the pending purchase of The Bowers Group, are anticipated to further bolster its financial performance by adding substantial EBITDA. The company’s successful IPO has also improved its financial health by significantly reducing net leverage. These positive developments, along with management’s optimistic revenue and EBITDA guidance for 2026, support a favorable outlook for the company, justifying the Buy rating and the increased price target of $45.