ServiceTitan initiated with a Buy at Canaccord

Canaccord initiated coverage of ServiceTitan (TTAN) with a Buy rating and $120 price target The company provides a “category-leading,” end-to-end, cloud-based platform for the trades, which is a market that today measures north of $10B in terms of serviceable addressable opportunity, the analyst tells investors in a research note. The firm believes the business should sustain 20%-plus growth for several years, and ultimately deliver 25%-plus operating margins on continued logo capture in core residential trades, gradual penetration into commercial opportunities, and potential expansion into new trades and international over time.