APi Group Corporation (APG) PT Raised to $52 at RBC Capital

RBC Capital analyst Ashish Sabadra raised the price target on APi Group Corporation (NYSE: APG) to $52.00 (from $45.00) while maintaining an Outperform rating.

The analyst commented: "APG outlined its growth strategy, focusing on MSD organic growth and the ongoing shift towards regulatory-driven, higher-margin, recurring revenues from inspections, services, and monitoring. New financial targets of 10/16/60+ should be well-received by investors. Particularly, $10bn+ in revenues and 16% adj EBITDA margins, 80bps annual expansion, should be supported by disciplined customer/project selection, pricing and operational strength. The Elevators segment, with a $1B opportunity in a $10B TAM, should drive cross-selling activity. Lastly, FCF generation and low net leverage should continue to support continued accretive M&A, investments in digital capabilities, shareholder returns and mid-teens ANI growth through FY28."

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