Barclays Starts ADT Corp (ADT) (when-issued) at Equalweight
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Price: $7.49 +0.27%
Rating Summary:
6 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays initiates coverage on ADT (NYSE: ADT) (NYSE: ADT.wi) with a Equalweight rating and $38 price target.
ADT.WI began trading on a when-issued basis on Monday 9/17/12 with analyst presentations on Tuesday 9/18/12. The shares will begin trading regular way on 10/1/2012.
"Our bias on the ADT asset quality is positive but we were somewhat underwhelmed by the analyst presentations and struggle with limited financial disclosure. Building a model that we have confidence in right now is difficult, therefore our preference is to stay on the sidelines. We should get more details in November. In the meantime, our price target equates to a ~22x P/E multiple on our initial 2013 EPS forecast of $1.75 or ~7x EBITDA, which we are comfortable with."
For an analyst ratings summary and ratings history on ADT click here. For more ratings news on ADT click here.
Shares of ADT closed at $ yesterday, with a 52 week range of $-$.
ADT.WI began trading on a when-issued basis on Monday 9/17/12 with analyst presentations on Tuesday 9/18/12. The shares will begin trading regular way on 10/1/2012.
"Our bias on the ADT asset quality is positive but we were somewhat underwhelmed by the analyst presentations and struggle with limited financial disclosure. Building a model that we have confidence in right now is difficult, therefore our preference is to stay on the sidelines. We should get more details in November. In the meantime, our price target equates to a ~22x P/E multiple on our initial 2013 EPS forecast of $1.75 or ~7x EBITDA, which we are comfortable with."
For an analyst ratings summary and ratings history on ADT click here. For more ratings news on ADT click here.
Shares of ADT closed at $ yesterday, with a 52 week range of $-$.
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