B. Riley analyst Lucas Pipes raised the firm’s price target on AZZ Inc. to $99 from $89 and keeps a Buy rating on the shares. AZZ reported another strong beat on July 10, with adjusted EBITDA comfortably above the firm’s estimate, the fourth consecutive time the company has exceeded its quarterly EBITDA estimates since its August 2023 initiation, the analyst tells investors in a research note. Results were off to a strong start, especially in Metal Coatings, and the company will continue to pay down debt and execute its growth project on time and on budget, B. Riley says.
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