Legence Prices Upsized Secondary Offering of 8.4M Shares at $45 Each
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Updated: 1 hour ago0mins
- Upsized Offering: Legence Corp. announced the pricing of an upsized secondary offering of 8,402,178 shares at $45 each, reflecting strong market demand, with the offering expected to close on December 16, 2025.
- Underwriter Participation: The offering is led by Goldman Sachs and Jefferies, with participation from multiple financial institutions, indicating strong market confidence in Legence, which may support future financing opportunities for the company.
- No Proceeds for Company: Legence will not receive any proceeds from the offering as all shares are sold by stockholders affiliated with Blackstone, allowing the company to maintain focus on its core operations rather than capital raising.
- Market Positioning: Legence specializes in engineering and maintenance services for technically demanding sectors, serving over 60% of the Nasdaq-100 Index clients, showcasing its strong competitive position and potential for sustained growth.
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Analyst Views on LGN
Wall Street analysts forecast LGN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for LGN is 42.92 USD with a low forecast of 37.00 USD and a high forecast of 49.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
13 Buy
1 Hold
0 Sell
Strong Buy
Current: 45.300
Low
37.00
Averages
42.92
High
49.00
Current: 45.300
Low
37.00
Averages
42.92
High
49.00
Tigress Financial
NULL
to
Buy
initiated
$54
2025-11-21
Reason
Tigress Financial
Price Target
$54
2025-11-21
initiated
NULL
to
Buy
Reason
Tigress Financial initiated coverage of Legence with a Buy rating and $54 price target. The firm views the company as "uniquely positioned" to drive above-market growth due to "surging" demand in artificial intelligence-enabled data centers, its expansion in healthcare and life sciences, and the need for energy-efficient infrastructure. Legence's liquid-to-chip cooling solutions address the thermal and energy demands of next-generation AI workloads, the analyst tells investors in a research note.
Jefferies
Hold
to
Buy
upgrade
$39 -> $49
2025-11-18
Reason
Jefferies
Price Target
$39 -> $49
2025-11-18
upgrade
Hold
to
Buy
Reason
Jefferies upgraded Legence to Buy from Hold with a price target of $49, up from $39. The firm's primary concerns were alleviated with an "impressive" Q3 report as Legence "comprehensively proved" M&A value creation would not be paused but actually accelerated, and that cash generation upside could be attainable through strong working capital management, the analyst tells investors.
Stifel
Brian Brophy
Buy
maintain
$36 -> $47
2025-11-18
Reason
Stifel
Brian Brophy
Price Target
$36 -> $47
2025-11-18
maintain
Buy
Reason
Stifel analyst Brian Brophy raised the firm's price target on Legence to $47 from $36 and keeps a Buy rating on the shares. Q3 revenue was above expectations, driven by strength in Data Centers & Technology, notes the analyst, who views the Bowers deal and progress on third-party fabrication sales "quite favorably."
RBC Capital
Sabahat Khan
Outperform
maintain
$36 -> $48
2025-11-17
Reason
RBC Capital
Sabahat Khan
Price Target
$36 -> $48
2025-11-17
maintain
Outperform
Reason
RBC Capital analyst Sabahat Khan raised the firm's price target on Legence to $48 from $36 and keeps an Outperform rating on the shares. Legence reported a strong inaugural quarter as a public company, with revenue and adjusted EBITDA above consensus, supported by the various megatrends that Legence is exposed to, while 4Q25 and 2026 guidance were also ahead at the midpoint, the analyst tells investors in a research note.
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About LGN
Legence Corp. is a provider of engineering, installation and maintenance services for mission-critical systems in buildings. The Company operates through two segments: Engineering & Consulting, and Installation & Maintenance. Its Engineering & Consulting segment designs heating, ventilation and air conditioning (HVAC) and other mechanical, electrical and plumbing (MEP) systems for buildings, develops strategies to help reduce energy usage and make buildings more sustainable and provides program and project management services for clients’ installation and retrofit projects. Its Installation & Maintenance segment fabricates and installs HVAC systems, process piping and other MEP systems in new and existing industrial, commercial and institutional buildings and provides ongoing preventative and corrective maintenance services for those systems. It focuses on technically demanding buildings sectors, including technology, life sciences, healthcare and education.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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