Bowman Consulting Group Ltd. (NASDAQ:BWMN) is one of the most promising small-cap industrial stocks under $50.
On December 9, Roth Capital analyst Jeff Martin reaffirmed his bullish stance on Bowman Consulting Group Ltd. (NASDAQ:BWMN). The analyst rated the stock as Buy and raised the price target from $45 to $50. As per Martin’s forecasts, the stock offers a highly impressive upside potential of over 45% to investors.
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Martin attributed his upward revision of the target price to Bowman Consulting Group’s (NASDAQ:BWMN) recent acquisition of RPT Alliance. The strategic move is aimed at broadening their power and utilities platform. According to the analyst, this acquisition will enable growth opportunities while expanding the group’s margins. He highlighted the company’s spiked valuation relative to its peers and considers it to be a “justifiable premium” given the company’s growth profile.
The stock has a consensus 1-year average price target of $45.75, which implies an upside potential of 35% from the current level. As of December 22 closing, the forecasts remain strong for Bowman Consulting Group Ltd. (NASDAQ:BWMN). The stock has been covered by four analysts, all of whom have given Buy calls.
Bowman Consulting Group Ltd. (NASDAQ:BWMN) is a multi-disciplinary engineering services firm that offers innovative solutions across real estate, infrastructure, and energy. Some of the major functions include land planning/zoning, construction administration, environmental management solutions, roadway & drainage designs, and utility relocation designs.
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Disclosure: None. This article is originally published at Insider Monkey.
