Analyst Andrew Obin from Bank of America Securities reiterated a Buy rating on Vontier and keeping the price target at $50.00.
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Andrew Obin has given his Buy rating due to a combination of factors that highlight Vontier’s strong market position and growth potential. Vontier holds a leading position in the convenience retail sector, which constitutes a significant portion of its revenue. The company’s strategic internal reorganization and increased pace of product introductions are expected to drive revenue growth and improve margins, positioning it well against its peers.
Additionally, Vontier’s advancements in car wash technology and the acceleration of underground fuel tank upgrades contribute to its positive outlook. The recent unfreezing of $5 billion in electric vehicle infrastructure funding by the US Department of Transportation is expected to bolster Vontier’s EV charger sales and recurring software revenue. Furthermore, Vontier’s strong relationships with large fuel pump operators in North America enable it to expand its market share in payments and asset management solutions, supporting its revenue and earnings growth projections.
According to TipRanks, Obin is a 5-star analyst with an average return of 15.5% and a 64.85% success rate. Obin covers the Industrials sector, focusing on stocks such as Emerson Electric Company, Eaton, and Honeywell International.
In another report released today, Barclays also maintained a Buy rating on the stock with a $49.00 price target.