UL Solutions price target raised to $59 from $56 at Stifel

Stifel raised the firm’s price target on UL Solutions (ULS) to $59 from $56 and keeps a Buy rating on the shares. The firm says the company continues to capitalize on the longer-term mega trends with broad-based growth across all business lines. Stifel believes the company set realistic 2025 guidance, as management noted 2025 is moderately more uncertain than last year. That being said, the firm thinks management set the guidance to a level where it has high confidence in delivering, and expects the company to at least hit the initial 2025 guidance targets. Stifel’s modeling incorporates slower growth in the first half of the year due to increased FX headwinds, slightly slower Consumer revenue growth and slightly higher Industrial revenue growth.