Advanced Drainage price target lowered to $144 from $155 at Baird

Baird lowered the firm’s price target on Advanced Drainage to $144 from $155 and keeps an Outperform rating on the shares. The firm said they posted operational upside on continued strong margin performance against depressed volumes. Guidance was raised for 2Q overage, but 2H expectations largely unchanged, which Baird views as conservative,