SiteOne Landscape initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Charles Perron-Piche initiated coverage of SiteOne Landscape with a Neutral rating and $158 price target The company has more than doubled its share in the wholesale landscaping distribution industry since 2016 and is well positioned to build on this over time through a combination of company-specific initiatives as well as organic growth and acquisitions, the analyst tells investors in a research note. However, the firm says this will likely be partially offset by continued weakness in repair and remodel and new non-residential end markets through 2025, resulting in peer relative performance over the next 12 months.