SiteOne Landscape Supply rises after UBS upgrades to 'buy'

SiteOne Landscape Supply

26/09/2023 17:22

** Shares of landscape supplies distributor SiteOne
Landscape Supply  SITE.N  rise 3.6% to $163.29 
    ** UBS upgrades stock to "buy" from "neutral", raises PT to
a Street-high of $200 from $145 — implying a 26.9% upside to
last close
    ** UBS expects SITE to remain the leading consolidator in
the fragmented landscape supplies market
    ** Says an improvement of 100 bps in EBITDA margins is
"easily achievable" in the next two years (11% in 2025) from 10%
currently, bringing the 13%-15% longer-term target in focus
    ** Stock valuation is at the low end of historical band,
presenting an attractive buying opportunity as growth
re-accelerates - UBS
    ** Of the 10 analysts covering stock, 6 rate "buy" or
higher, 3 "hold" and 1 "sell"; median PT at $175 - LSEG data 
    ** Shares up 39.3% YTD, including session gains
    
    

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))