Thermon Group Holdings: Strong Financial Performance and Promising Growth Prospects Drive Buy Rating

William Blair analyst Brian Drab has maintained a Buy rating on Thermon Group Holdings (THR) due to its strong financial performance and promising growth prospects. The company's recent quarterly results exceeded expectations in revenue, adjusted EBITDA, and adjusted EPS, aided by improved customer spending and backlog recovery. Strategic initiatives in productivity and cost savings have mitigated the impact of increased capital expenditures. Growth is expected from LNG project wins, data center market expansion, and medium-voltage heater opportunities, with fiscal 2026 guidance revised upward. Another report also upgraded the stock to a Buy with a $33.00 price target.