Truist initiated coverage of APi Group (APG) with a Buy rating and $45 price target The firm says APi is an “underappreciated name” as it “quietly” holds the leading market position in U.S. fire protection. The company is poised to deliver mid-single-digit organic growth, 50-70 basis points of annual margin expansion and 10%-plus earnings growth, the analyst tells investors in a research note. Truist believes APi should have a “long runway” of accretive tuck-in acqsuitions to increase its recurring revenue mix and drive margin expansion.
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