Oppenheimer raised the firm’s price target on Advanced Drainage (WMS) to $165 from $160 and keeps an Outperform rating on the shares. The firm notes the shares jumped 17% on August 7 after the company reported Q1 2026 adjusted EBITDA of $278M and conservatively reiterated FY26 guidance ranges. Oppenheimer is encouraged by the team’s FY26 start and remains bullish on Advanced Drainage’s structural advantages, adaptive business model, and ability to navigate construction cycle volatility.
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