James Ricchiuti, an analyst from Needham, maintained the Buy rating on Montrose Environmental Group (MEG – Research Report). The associated price target remains the same with $39.00.
James Ricchiuti has given his Buy rating due to a combination of factors that highlight Montrose Environmental Group’s strong financial performance and promising future outlook. The company has demonstrated solid fundamentals, with its recent revenue and EBITDA guidance aligning with market expectations for 2025. Additionally, Montrose Environmental Group has shown a commitment to improving cash flow and reducing debt, as evidenced by their plan to redeem the Series A-2 preferred stock in 2025.
Moreover, the company’s recent financial results exceeded expectations, with a notable increase in both revenue and adjusted EBITDA. The demand trends across their business remain robust, unaffected by changes in the administration, which further supports a positive outlook. The company’s guidance for revenue growth and adjusted EBITDA margins in the coming years suggests continued strength, prompting Ricchiuti to adjust his estimates upwards and maintain a Buy rating.
According to TipRanks, Ricchiuti is a 4-star analyst with an average return of 7.7% and a 49.09% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as TTM Technologies, 3D Systems, and Benchmark Electronics.