Jefferies Starts Legence Corp (LGN) at Hold

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Legence Corp (NASDAQ: LGN) with a Hold rating and a price target of $34.00.

The analyst comments: "We launch with a HOLD rating and $34.00 PT on the mechanical, electrical and plumbing (MEP) systems services provider. Legence is a new IPO backed by Blackstone. LGN is focused on data centers with a +20% end market CAGR through 2029 as part of premium double-digit organic sales growth. Faster growth is offset by little margin gain and below avg FCF generation which likely constrains near-term multiple expansion."

For an analyst ratings summary and ratings history on Legence Corp click here. For more ratings news on Legence Corp click here.

Shares of Legence Corp closed at $30.57 yesterday.

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