William Blair analyst Tim Mulrooney has maintained their bullish stance on APG stock, giving a Buy rating on April 21.
Tim Mulrooney has given his Buy rating due to a combination of factors including APi Group’s strong financial performance and improved guidance. The company reported a revenue increase of 7.4%, surpassing expectations, with organic growth exceeding management’s initial guidance. Additionally, adjusted EBITDA rose by 10%, also beating consensus estimates, although the margin was slightly below expectations.
Moreover, APi Group’s management has raised its full-year guidance, reflecting favorable foreign exchange conditions. The revenue forecast was increased by $100 million, and adjusted EBITDA guidance was lifted by $15 million, both exceeding market expectations. These positive financial indicators and the company’s proactive adjustments to guidance underpin Mulrooney’s optimistic outlook and Buy rating for APi Group’s stock.
In another report released on April 21, RBC Capital also reiterated a Buy rating on the stock with a $45.00 price target.