UPDATE: Morgan Stanley Upgrades Advanced Drainage Systems (WMS) to Equalweight
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Morgan Stanley analyst Joshua Pokrzywinski upgraded Advanced Drainage Systems (NYSE: WMS) from Underweight to Equalweight with a price target of $102.00 (from $53.00).
The analyst comments "Our mid-2020 Underweight thesis was predicated on a return to historical margins and valuation as non-residential markets deteriorated with COVID and unsustainably low input costs rose. Performance, from secular trends and execution, has persisted even as those elements played out. Upgrading to EW."
Shares of Advanced Drainage Systems closed at $97.04 yesterday.
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