Frontdoor Inc. (FTDR) PT Raised to $58 at Truist Securities

Truist Securities analyst Youssef Squali raised the price target on Frontdoor Inc. (NASDAQ: FTDR) to $58.00 (from $56.00) while maintaining a Buy rating.

The analyst commented: "We are raising our 2024 EPS forecast to $3.20 from $2.83 to reflect the upside in 3Q along with updated guidance, while our 2025 forecast is unchanged at $2.95. We will update our model for the expected 2-10 acquisition in conjunction with the company’s Investor Day in February. Our price target of $58 (from $56) assumes FTDR trades at 11.5x our 2025 EBITDA forecast, still below the historical norm."

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