Montrose Environmental downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Montrose Environmental (MEG) to Neutral from Overweight with a price target of $29, down from $48. The firm cut growth expectations and the corresponding operating leverage impact. The “more muted outlook” in the near term stems from the lack of visibility into Montrose’s revenue growth acceleration, particularly as it relates to PFAS remediation projects, coupled with the volatility of emergency response revenues, the analyst tells investors in a research note.