Advanced Drainage Systems (WMS) PT Raised at KeyBanc; 'We Remain Confident in our LT Thesis'

KeyBanc analyst Jeffrey Hammond raised the price target on Advanced Drainage Systems (NYSE: WMS) to $140.00 (from $135.00) while maintaining an Overweight rating.

The analyst commented: "FY26 Outlook Prudently Conservative on End Markets; Pricing Remains Stable; Following WMS’s F4Q25 earnings, we feel NT trends are more positive relative to the end market caution embedded in the outlook. As such, we believe the guide is appropriately conservative around potential demand destruction and see a path to upside in FY26 should current trends hold as pricing remains stable. All in, we remain confident in our LT thesis, seeing WMS shares re-rating higher as investors appreciate meaningful material conversion tailwinds; herein, we maintain our OW and raise our PT to $140 (from $135)."

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