Loop Capital analyst Jeffrey Stevenson upgraded SiteOne Landscape to Buy from Hold with an unchanged price target of $155. The firm’s landscaping survey has further confirmed a resilient 2023 demand environment and potential price/cost upside to company guidance, the analyst tells investors in a research note. The firm has reduced its March quarter forecast on heavy rainfall in California and lack of snowfall in seasonal markets, but the good news is that Q1 is a seasonally small quarter and SiteOne is set to benefit from high levels of pent-up California demand moving forward, Loop Capital adds.
Published first on TheFly
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