Stifel Reiterates Buy Rating on Terminix Global Holdings, Inc. (TMX) After Meeting with Management
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Stifel analyst Michael Hoffman reiterated a Buy rating and $64.00 price target on Terminix Global Holdings, Inc. (NYSE: TMX) after meeting with the CEO, Brett Ponton, and CFO, Bob Riesbeck.
The analyst stated "Our investment thesis has TMX becoming an industry-leading compounder of growth and FCF conversion. It has meaningfully improved the operating performance to now consistently produce sales growth inline with the industry and FCF conversion of 55% to 60% of EBITDA. Next move is to drive better than market growth with a combination of organic growth and M&A and push FCF conversion above 60% consistently. There is nothing structural about the TMX regional or customer mix to preclude this from happening, including the current workout of above average Termite damage claims. TMX needs to address employee and customer retention, complete the digital transformation of the business model and has about $40mm left of the damage claim ring-fence to pay out."
Shares of Terminix Global Holdings, Inc. closed at $40.90 yesterday.
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