Vontier resumed with a Buy at UBS

UBS resumed coverage of Vontier (VNT) with a Buy rating with a price target of $47, up from $46. UBS sees improved market conditions for the business heading into 2025, which should drive upward revisions to consensus estimates and better sentiment supporting valuation multiple re-rating, the analyst tells investors in a research note. The combination of sluggish growth since 2021 and the company’s perception as an EV transition loser, both of which have been an overhang for the stock, should ease going forward, UBS contends, arguing that Trump 2.0 and auto EV platform pushouts underscore the sustainability of retail fueling venues and that a lower inflation and lower lower interest rate environment bodes well for the underperforming car wash and repair tools businesses.