APi Group price target raised to $48 from $45 at Truist

Truist analyst Jasper Bibb raised the firm’s price target on APi Group (APG) to $48 from $45 and keeps a Buy rating on the shares after its Q4 results. The management also reaffirmed the preliminary FY25 outlook offered last week and indicated Q1 will be below prior consensus primarily driven by an unfavorable weather comp and project delays in the Specialty business, the analyst tells investors in a research note. Truist adds it sees opportunity for multiple expansion, with Private Fire competitors selling at high teens or even 20-times on enterprise value to expected EBITDA multiples.