SiteOne Landscape price target raised to $163 from $160 at Baird

Baird analyst David Manthey raised the firm’s price target on SiteOne Landscape to $163 from $160 and keeps an Outperform rating on the shares. The analyst said Site remains in the early innings of a multi-year compounding growth story, which we think will create significant shareholder value ahead even as margins/earnings reset in 2023; and we’d be better buyers on pullbacks but continue to like the long-term story.