UBS analyst Joshua Chan raised the firm’s price target on UL Solutions to $40 from $38 and keeps a Neutral rating on the shares. UL Solutions reported in-line Q1 results, including organic growth and adjusted EBITDA that were both in line with expectations, the analyst tells investors in a research note. Management guided full-year organic growth to mid-single-digits, consistent with the firm’s model, but unquantified outlook on adjusted EBITDA margin “improvement” potentially opens up a wider range of outcomes.
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