Advanced Drainage price target lowered to $115 from $118 at Loop Capital

Loop Capital analyst Garik Shmois lowered the firm’s price target on Advanced Drainage to $115 from $118 but keeps a Buy rating on the shares. The analyst states that the firm is becoming "intentionally more conservative" about modeling nonresidential construction demand. The firm adds however that while Advanced Drainage has started to see weakness in this end market over the last two quarters already, it should conceivably see a recovery comparatively sooner given the early cycle nature of their products.