Legence initiated with a Buy at Loop Capital

Loop Capital initiated coverage of Legence (LGN) with a Buy rating and $96 price target Legence is among the most attractive growth stories in Loop’s coverage universe, the analyst tells investors in a research note. The firm likes the company’s “outsized exposure to high growth industries,” including data centers and technology. Loop says the company’s backlogs and contracts awarded continue to accelerate, growing to a $5.2B inclusive of its recent Bowers acquisition.