ADT (ADT) NDR Highlights Strengthened Long Term Outlook - Goldman Sachs

Goldman Sachs analyst George Tong reiterated a Buy rating and $13.00 price target on ADT (NYSE: ADT) following a virtual non-deal roadshow with CEO, Jim DeVries, and CFO, Jeff Likosar.

The analyst stated "We believe ADT is well positioned to capitalize on new growth opportunities, including strong new home construction trends and rising smart home demand, as it offensively steps up its subscriber acquisition costs by $150-250mn this year. With these investments, management plans to deliver accelerated mid-teens gross recurring monthly revenue additions growth in 2021. We expect ADT to increase its penetration of the fast growing smart home category longer-term with this incremental spend, particularly when combined with the ramping Google partnership."

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

Shares of ADT closed at $7.96 yesterday.

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