Needham & Company Starts Dun & Bradstreet (DNB) at Buy
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Needham & Company analyst Kyle Peterson initiates coverage on Dun & Bradstreet (NYSE: DNB) with a Buy rating and a price target of $30.00.
The analyst comments "DNB is a global provider of business data and analytics, with the company's core offerings often used to assess credit risk, evaluate suppliers/customers, and boost S&M efficiency through detailed insights. We expect the demand for the company's data and analytics to increase on the strength of positive secular trends driving growth in financial data and analytics. In addition, DNB trades at a discounted EV/EBITDA multiple versus its peers; we attribute the discount to higher leverage and modestly slower NT organic growth. However, we believe the leverage is manageable and that organic growth will improve as FY21 progresses. Our $30 price target is based on an EV/EBITDA multiple of 17.5x our FY22 estimate and implies nearly 25% upside."
Shares of Dun & Bradstreet closed at $24.35 yesterday.
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