Oppenheimer raised the firm’s price target on Advanced Drainage (WMS) to $175 from $168 and keeps an Outperform rating on the shares. The firm notes shares rose 8.8% after reporting Q2 adjusted EBITDA of $288M and lifting FY26 guidance ranges. Given first half of the year results, current backlog and demand visibility, and operating trends, Advanced Drainage raised its FY26 revenue outlook. Oppenheimer is encouraged by the team’s Q2 performance and remains bullish on the company’s structural advantages, adaptive business model, commitment to higher-margin product mix, and capital deployment runway.
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