UPDATE: JPMorgan Upgrades Vivent Smart Home (VVNT) to Overweight
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JPMorgan analyst Paul Coster upgraded Vivent Smart Home (NYSE: VVNT) from Neutral to Overweight with a price target of $20.00.
The analyst comments "We re upgrading VVNT to Overweight from Neutral. VVNT is trading at ~10.1x our CY21 PF EPBITDA a discount to the broader peer group, and a widening discount to near peer Alarm.com (despite some similarity in fundamentals). In our view the stock looks attractively valued here, ahead of the positive re-rating that should occur in a year from now as cash flow from operations turns positive. With an Overweight rating, we look for VVNT to outperform the mean of our coverage in the next 6 - 12 months."
Shares of Vivent Smart Home closed at $15.32 yesterday.
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