SiteOne Landscape downgraded to Hold from Buy at Jefferies

Jefferies downgraded SiteOne Landscape to Hold from Buy with an unchanged price target of $170. The analyst reduced estimates following the company’s Q4 results, where adjusted EBITDA came in short of the firm’s forecast. Jefferies sees SiteOne’s sales down 10% in fiscal 2023 and with the shares nearing the price target, it downgraded the name. Its view is more conservative on SiteOne’s consumer exposure.