Stifel analyst Shlomo Rosenbaum raised the firm’s price target on First Advantage (FA) to $21 from $16 and keeps a Buy rating on the shares after the company introduced its pro forma deal model for the company’s pending acquisition of Sterling Check (STER). The firm, which says it “took a balanced approach to our assumptions, and attempted to be somewhat conservative but also reasonable,” notes that its base case implies 2% dilution to standalone earnings in 2024, with low-to-mid-single-digit EPS accretion from 2025-2028.
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- First Advantage sees FY24 adjusted EPS 88c-98c, consensus $1.07
- First Advantage reports Q4 adjusted EPS 29c, consensus 30c
