Montrose downgraded to Neutral on ‘muted’ leverage at JPMorgan

JPMorgan analyst Stephanie Yee downgraded Montrose Environmental to Neutral from Overweight with a price target of $39, down from $48. The company’s Q4 results and guidance disappointed expectations, the analyst tells investors in a research note. The firm thinks Montrose can grow at a "decently high" level organically, when excluding the more volatile CTEH, but says its operating leverage in the near term "appears muted."