UBS Upgrades SiteOne Landscape Supply, Cuts Price Target By ~3%

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  • UBS analyst Damian Karas upgraded SiteOne Landscape Supply Inc SITE to Neutral from Sell while reducing the price target to $165 (a downside of 4.8%), from $170.
  • Following correction over the past four months, the stock price now suitably reflects the company's 10% sales growth, the analyst notes.
  • Karas specifies that SiteOne now trades at a modest discount to Pool Corp POOL and a low-single-digit premium to Watsco Inc WSO.
  • Price Action: SITE shares are trading higher by 5.6% at $173.45, POOL higher by 3.28% at $454.70, and WSO higher by 0.86% at $306.33 on the last check Tuesday.
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