Frontdoor: Another Wall St bull comes knocking

frontdoor

28/03/2019 16:07

** Frontdoor Inc  FTDR.O  shares up about 4 pct at $34.08 as
SunTrust Robinson becomes the fourth brokerage to give the home
service plans provider their top rating this week
    ** SunTrust starts with "buy", citing FTDR's market-leading
position that is 4x larger than nearest rival and its scale that
gives it a competitive advantage to drive volume discounts
    ** Says its subscription model has 75 pct customer retention
and 66 pct renewals with high FCF profitability, while its mgmt
team seems "reenergized and properly incentivized" post spin-off
    ** SunTrust's $50 PT is the highest among the seven
brokerages covering the stock, Refinitiv data shows
    ** William Blair, JPMorgan and Wells Fargo also started
coverage with their top rating earlier this week  urn:newsml:reuters.com:*:nL3N21C38O
    ** All 7 covering analysts rate FTDR the equivalent of
"strong buy" or "buy" and median PT is $42.50 - Refinitiv data
    ** Since spin-off from ServiceMaster  SERV.N  on Oct. 1,
FTDR shares are off ~17 pct, while SERV is up ~12 pct
    ** YTD, FTDR shares are up ~28 pct, more than doubles the
Dow Jones US consumer services index's  .DJUSCY  ~12 pct rise

 (Reporting by Savio D'Souza)
 ((RM:savio.dsouza.thomsonreuters.com@reuters.net))