Barclays Starts Montrose Environmental Group (MEG) at Overweight

Barclays initiates coverage on Montrose Environmental Group (NYSE: MEG) with a Overweight rating and a price target of $35.00.

The analyst comments "We initiate coverage of MEG with an Overweight rating and $35 PT. MEG offers a relatively inexpensive exposure to growth in environmental testing, monitoring, and remediation, trading at 12x NTM EV/EBITDA compared to ~15x for our Waste coverage group. We see upside potential driven by multiple expansion as management continues to deliver against its LT financial targets. Upcoming catalysts include 2H25 results, commencement and/or expansion of share buyback plan, potentially raised margin targets, and incremental commentary on a return to M&A activity (potentially by 2026). Our $35 PT is based on a 13x multiple applied to cumulative 3Q26-2Q27E adj. EBITDA, less net debt."

For an analyst ratings summary and ratings history on Montrose Environmental Group click here. For more ratings news on Montrose Environmental Group click here.

Shares of Montrose Environmental Group closed at $29.33 yesterday.

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