BofA downgraded Montrose Environmental (MEG) to Neutral from Buy with a price target of $29, down from $52, as the firm views the incoming Trump administration as likely to lead to a slower pace of Federal environmental regulation. While acknowledging that state- and local-level regulations are “meaningful drivers” of Montrose’s recurring revenue, the firm notes that a key part of its prior Buy thesis was revenue growth in 2025-26 from remediation activity of per- and polyfluoroalkyl substances, or PFAS.
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