Frontdoor price target raised to $45 from $38 at JPMorgan

JPMorgan analyst Cory Carpenter raised the firm’s price target on Frontdoor to $45 from $38 and keeps an Overweight rating on the shares. The company reported a Q2 beat, guided Q3 ahead of the Street, and increased its 2023 outlook across the board, the analyst tells investors in a research note. The firm says the home service plan margin improvement story is playing out faster than it expected.