SiteOne Landscape price target lowered to $140 from $145 at Stifel

Stifel lowered the firm’s price target on SiteOne Landscape (SITE) to $140 from $145 and keeps a Hold rating on the shares ahead of Q4 earnings scheduled to be reported on February 12. The firm is adjusting estimates for incremental M&A and lowering its price target for lower prevailing multiples, adding that it takes “a cautious approach” to FY25 EBITDA. The firm, which notes that SiteOne is likely to provide initial guidance with earnings, points out that Stifel’s FY25 EBITDA view is below the current consensus.