What Do Analysts Think About Montrose Environmental Group (MEG)?

Montrose Environmental Group, Inc. (NYSE:MEG) is one of the best waste management stocks to buy right now. On August 8, Needham analyst James Ricchiuti raised the firm’s price target on Montrose Environmental Group, Inc. (NYSE:MEG) to $31 from $30, keeping a Buy rating on the shares.

Montrose Environmental Group (MEG): Among Billionaire Ken Fisher’s Industrial Stock Picks with Huge Upside Potential

The analyst told investors in a research note that Montrose Environmental Group, Inc. (NYSE:MEG) delivered impressive Q2 results that should go a long way in addressing investor concerns regarding profitability and growth.

The same day, Needham analyst James Ricchiuti reiterated a Buy rating on Montrose Environmental Group, Inc. (NYSE:MEG) and set a price target of $31.00.

Similarly, Clear Street analyst Tim Moore raised the firm’s price target on Montrose Environmental Group, Inc. (NYSE:MEG) to $36 from $34 on August 7 while keeping a Buy rating on the shares, attributing the outlook upgrade to the company’s solid Q2.

The analyst cited the company’s higher organic sales growth profile and EBITDA margin as factors supporting the positive outlook.

Montrose Environmental Group, Inc. (NYSE:MEG) is an environmental services company that provides air measurement and environmental laboratory services.

The company’s operations are divided into the following segments: Assessment, Permitting and Response, Measurement and Analysis, and Remediation and Reuse.

While we acknowledge the potential of MEG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MEG and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.