Lake Street analyst Rob Brown raised the firm’s price target on Limbach Holding (LMB) to $156 from $125 and keeps a Buy rating on the shares. The Pioneer Power acquisition should be nicely accretive and appears to be a great fit, strengthening the company’s Midwest footprint and expanding its industrial capabilities, the analyst tells investors in a research note. The firm estimates Limbach is on a path to become a $1.2B revenue business generating EBITDA margins of 14%, or EBITDA of $165M, implying a long-term stock opportunity of $180/share.
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Read More on LMB:
- Limbach Holding price target raised to $151 from $141 at Stifel
- Limbach Holdings Acquires Pioneer Power for $66.1 Million
- Limbach Holding acquires Pioneer Power for $66.1M to expand Midwest reach
- Limbach Holdings Approves Incentive Plan Amendment
- Limbach Holding price target raised to $141 from $130 at Stifel