SiteOne Landscape upgraded to Buy from Hold at Stifel

Stifel upgraded SiteOne Landscape to Buy from Hold with a price target of $165, down from $167. The analyst views the company’s Q1 update as disappointing but views the stock’s underperformance as a “resolvable controversy with outsized focus on results impacted by transitory headwinds amplified in the seasonally smallest quarter alongside peak commodity price margin headwinds.” The stock deterioration creates a compelling entry point for the best growth story in specialty distribution, the analyst tells investors in a research note.