Information Provided By:
Fly News Breaks for October 8, 2019
SERV
Oct 8, 2019 | 07:03 EDT
RBC Capital analyst Seth Weber upgraded ServiceMaster to Outperform and raised his price target to $63 from $55. The analyst is citing the findings of his RBC Pest Survey, which showed growing customer satisfaction with Terminix product and which he believes should result in higher customer retention rate. Weber is also positive on ServiceMaster's acquisition of Nomor announced last month, noting the purchase of the 4th biggest pest control operator in Europe gives the company a "toe hold" in the market while adding a "fast-growing" business whose margins are above the Terminix average.