Diversey (DSEY) PT Raised to $21 at Jefferies in First Public Quarter

May 17, 2021 9:43 AM EDT
Get Alerts DSEY Hot Sheet
Price: $17.37 +1.52%

Rating Summary:
    9 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 7 | New: 31
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Jefferies analyst Laurence Alexander raised the price target on Diversey (NASDAQ: DSEY) to $21.00 (from $19.00) after Sales of $632m beat the expectation of $614m. Sales declined 4% YoY as a 5% decline in Institutional (74% of total sales) was partially offset by 1% gain in Food & Beverage. In Institutional, strong performance in healthcare and infection prevention products were offset by COVID-related restrictions in food service and hospitality sectors.

The analyst reiterated a Buy rating, stating "The company expects sequential improvement throughout the year, in line with our forecast. We are keeping our 2021E EBITDA forecast at $430m and 2022E at $460m." "Our new price target of $21 (+$2) represents 18.0x (vs prior 16.5x) our 2022E EV/EBITDA of $460m. DSEY currently trades at 16.6x our 2021E EBITDA, a steep discount to its closest peer, Ecolab (ECL, Hold), at 26.8x."

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co