Willdan Group price target raised to $35 from $30 at Wedbush

Wedbush raised the firm’s price target on Willdan Group to $35 from $30 and keeps an Outperform rating on the shares post last week’s Midwest NDR with management, reflecting strong visibility relative to 2024’s guidance, strong pipeline, including high-margin software, an ongoing change in software delivery, including billable-implementation work, as well as impressive monetization use cases of consulting, and software engagements leading to 8-10-times project work. The firm is also aligning its 2024 quarterly estimates with management’s guidance.