Legence initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Legence (LGN) with an Outperform rating and $36 price target The firm says the company offers a “unique Integrated offering” within the engineering and construction space and is levered to “several megatrends,” including the build-out of data centers in the U.S. RBC views Legence as a way of getting exposure to some of the fastest growing markets and customers within the non-residential building construction industry.