UBS Starts Andersen Group (ANDG) at Buy

UBS analyst Kevin McVeigh initiates coverage on Andersen Group (NYSE: ANDG) with a Buy rating and a price target of $28.00.

The analyst comments: "We initiate coverage of Andersen with a Buy rating and $28 PT, implying ~20% upside potential. With the stock hovering around $24, the market implied 2027 adj. EBITDA is ~$200m vs. UBSe of $230m, making us believe that the market is not capturing the impact of revenue growth and/or future productivity as well as the growing potential international opportunity. Andersen is well positioned for ~13% ORGANIC revenue growth in 2024-27E. This likely occurs through a combination of success with existing clients, new clients, new offerings, and international expansion. Andersen's mostly domestic services began in 2002 with an experienced founder-led management team that has expanded its reach internationally with Andersen Global—a Swiss association of over 300 member and collaborating firms including 50k+ professionals in 180+ countries—that Andersen created to better service clients internationally at scale."

For an analyst ratings summary and ratings history on Andersen Group click here. For more ratings news on Andersen Group click here.

Shares of Andersen Group closed at $24.29 yesterday.

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Redwire Defense wins $15.9M Army contract for drone systems
• Freedom Broker Starts Royal Caribbean Cruises (RCL) at Buy