Advanced Drainage price target raised to $200 from $180 at Oppenheimer

Oppenheimer analyst Bryan Blair raised the firm’s price target on Advanced Drainage (WMS) to $200 from $180 and keeps an Outperform rating on the shares. The firm notes the company reported Q3 adjusted EBITDA of $209M, driven by Infiltrator and Allied Products outperformance, more than offsetting slightly weaker than anticipated Pipe revenue and unfavorable below-the-line items. Given Q3 results, current demand reads, core operating trends, and the inclusion of NDS operations, management raised FY26 guidance ranges.