Frontdoor Inc. (FTDR) PT Raised to $100 at Oppenheimer

Oppenheimer analyst Ian Zaffino raised the price target on Frontdoor Inc. (NASDAQ: FTDR) to $100.00 (from $70.00) while maintaining a Outperform rating.

The analyst comments "frontdoor's 2Q26 EBITDA of $220M beat our/Street's $203M/$205M estimates on strong gross margins (~59%) and favorable weather and cost development. Revenue of $645M compares with our/Street's $643M estimate. Renewals revenue increased 4% YoY on pricing, real estate grew 3% on 7% member growth, and DTC fell 2% on promotional pricing. The non-warranty & other channel (HVAC program) remains strong (+19%). Management raised FY26 guidance to revenue of $2.19B-$2.21B (vs. $2.155B-$2.195B previously) and EBITDA of $585M-$600M (vs. $565M-$580M previously). Gross margins are now expected to be ~55%, vs. 54-55% previously, with EBITDA margins of ~27%. Raise FY26E/FY27E EBITDA to $589M/$622M (from $568M/$608M); and our PT to $100 (from $75), or ~12x FY27E EBITDA."

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