SiteOne Landscape price target raised to $200 from $175 at Loop Capital

Loop Capital analyst Jeffrey Stevenson raised the firm’s price target on SiteOne Landscape to $200 from $175 and keeps a Buy rating on the shares. The firm’s landscaping survey is showing modest Q3 upside to the company’s prior guidance as well as positive initial 2024 demand expectations, the analyst tells investors in a research note. Overall pricing will return to modest growth in 2024 given the expectation that commodity-based pricing will find a floor sometime in the second half of this year and that comps will ease next year, the firm added.