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.
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- Advanced Drainage Systems’ NDS Acquisition Raises Integration and Execution Risk, Threatening Growth and Profitability
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