Advanced Drainage price target raised to $155 from $125 at Baird

Baird analyst Michael Halloran raised the firm’s price target on Advanced Drainage to $155 from $125 and keeps an Outperform rating on the shares. The firm said the posted operational upside on exceptional margin performance despite expectedly soft volumes. Guidance was held out of conservatism, and they suspect that current trends will naturally drive the company toward the high end of the range.