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UPDATE: Stifel Nicolaus Initiates ADT Corporation at Buy on Spin-Off Opportunities

Stifel Nicolaus initiated coverage on ADT Corporation (NYSE: ADT) with a Buy rating and a $56 price target.

Stifel Nicolaus noted, "We believe the recent spin-off from Tyco should position ADT to better capitalize on the potentially improving industry growth trends, and also gives the company more flexibility to pursue M&A and leverage the balance sheet. Over the next several years we expect a modest acceleration in ADT's RMR growth and an improvement in SSFCF as higher value subscribers become a larger portion of the base. Additionally, we would not be surprised if M&A augmented organic growth, and if management “tweaked” the capital structure further."

ADT Corporation closed at $46.75 on Monday.

Latest Ratings for ADT

DateFirmActionFromTo
Nov 2014Morgan StanleyMaintainsEqual-weight
Nov 2014BarclaysMaintainsEqual-weight
Nov 2014CitigroupMaintainsBuy

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Posted-In: Stifel NicolausAnalyst Color Initiation Intraday Update Analyst Ratings

 

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