Charah Solutions price target adjusted to $17 at Stifel after reverse split

Stifel analyst Michael Hoffman adjusted the firm’s price target on Charah Solutions to $17 from $2 pre-split and keeps a Buy rating on the shares after the company announced it would effect a one-for-ten reverse stock split of its common stock on December 29. He assumes FY23 will be "a transition year," with momentum for sales and profits building over the course of the year, excluding the impact of ERT scrap and real estate sales, Hoffman tells investors.