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Fly News Breaks for August 7, 2019
SITE
Aug 7, 2019 | 07:24 EDT
Berenberg analyst Alex Maroccia downgraded SiteOne Landscape to Hold from Buy with a price target of $70, down from $76. The analyst believes weather has hampered the company's ability to deliver the top end of its full-year adjusted EBITDA target of $207M. When combined with low organic sales and the inability to consistently expand margins, SiteOne is currently a "wait and see" roll-up story trading at a fair valuation, Maroccia tells investors in a research note.
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