BrightView Stock Slips After Goldman Sachs Downgrade

December 20, 2021 2:11 PM | 1 min read | Make a Comment

Goldman Sachs analyst George Tong downgraded BrightView Holdings Inc BV to Neutral from Buy and lowered the price target to $15 (an upside of 15.3%), from $18.
The analyst notes labor and supply chain constraints over the near- to medium-term will cause subcontractor delays that weigh on the company's landscape development business.
Tong expects ancillary services revenue in the company's landscape maintenance business to remain under pressure due to omicron as customer discretionary spending gets scaled back in an uncertain environment.
He sees limited upside potential in BrightView shares over the next 2-4 quarters against this backdrop.
Price Action: BV shares are trading lower by 10.2% at $12.99 on the last check Monday.