Perimeter Solutions SA (PRM) PT Lowered to $38 at UBS, Buy Rating Maintained Into Q3 Print

UBS analyst Joshua Spector lowered the price target on Perimeter Solutions SA (NYSE: PRM) to $38.00 (from $42.00) while maintaining a Buy rating.

The analyst commented, "We think that PRM stock has been weak as investors have shifted from bullish on the 2026 fire season to now bearish that 3Q earnings could present downside as acres burned has slowed down. We think the stock is pricing in something in the range of a 10% miss versus expectations or isn't pricing in the ~15% EBITDA growth we expect next year. Our analysis of regional fire retardant intensity and some scenario analysis indicates to us that PRM fire retardant gallons could be up ~10% Y/Y, and there are plenty of drivers outside of wildfires that fuel PRM's longer term growth. With increased debate around 3Q, we think the setup into earnings is positive as a beat vs expectations and consensus could turn sentiment around on the stock."

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