Baird downgraded UL Solutions to Neutral from Outperform with a price target of $46, up from $41. The analyst increased the target to reflect the increased investor confidence in the company’s business model but downgraded the shares on valuation. The downgrade recognizes the stock’s outperformance, and a bit higher risk around margin improvement, the analyst tells investors in a research note. The firm sees UL’s risk/reward are now better balanced after the recent share rally.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ULS:
- UL Solutions acquires Germany-based TesTneT, no terms
- UL Solutions to build Advanced Automotive and Battery Testing Center in Korea
- UL Solutions acquires BatterieIngenieure, terms undisclosed
- UL Solutions price target raised to $43 from $40 at Wells Fargo
- UL Solutions price target raised to $41 from $40 at Baird