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UPDATE: Oppenheimer Initiates ADT at Outperform on Yield and Recurring Revenue

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Oppenheimer initiated coverage on ADT (NYSE: ADT) with an Outperform rating and a $50 price target.

Oppenheimer noted, "Recently spun off from Tyco, ADT is North America's largest home security monitoring company. Roughly 90% of revenues are recurring, and impressive subscriber economics drive IRRs of 14-21%. With rising ARPUs, $350M+ in FCF and an opportunity to lever up its balance sheet to return cash to shareholders, ADT represents an interesting investment opportunity."

ADT closed at $41.88 on Monday.

Latest Ratings for ADT

DateFirmActionFromTo
Aug 2019MaintainsOutperform
May 2019DowngradesOverweightEqual-Weight
Mar 2019DowngradesBuyNeutral

View More Analyst Ratings for ADT
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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