Roth Capital initiated coverage of Legence (LGN) with a Buy rating and $41 price target The firm says the company benefits from energy efficient infrastructure tailwinds, particularly in the high-tech data center and life sciences industries, which are 50% of its backlog. This supports a medium-term outlook for Legence of 10% revenue and adjusted EBITDA growth, as 85% of the company’s revenue is generated under lower risk fixed price contracts, the analyst tells investors in a research note.
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