Perimeter Solutions rallies after UBS turns bullish on wildfires demand

Millennium Prime

26/03/2025 17:33

** Shares of specialty chemicals firm Perimeter Solutions PRM.N up 10% to $10.02, over three week high, on Weds after UBS upgraded to 'buy' from 'neutral'

** PRM is a leading fire retardant maker and could benefit as wildfires hit more populated areas, UBS said in note

** Recent memory of Los Angeles wildfires will increase the call for more ability to fight, contain and prevent them, UBS said, and should drive growth in PRM's volumes and earnings

** Stock's recent weakness provides an attractive entry point, UBS said

** The analysts maintained their $14 PT, implying ~54% upside to stock's last close

** Even with the move on the session, stock down 22% YTD

** Clayton, Missouri-headquartered co made public debut in Nov 2021 after SPAC merger

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))