Citi analyst Peter Christiansen resumed coverage of ADT Inc. with a Buy rating and $11 price target. ADT’s new partnership with State Farm, including exposure to the brand’s 14M customers, "seems highly logical to us given the opportunity for cross selling," Christiansen tells investors in a research note. The analyst also thinks State Farm’s equity investment/ tender process "alleviates a degree of PE overhang" for ADT.
Published first on TheFly
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