William Blair analyst Tim Mulrooney has maintained their bullish stance on APG stock, giving a Buy rating on July 17.
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Tim Mulrooney has given his Buy rating due to a combination of factors including APi Group’s impressive second-quarter performance and the upward revision of their guidance. The company’s fire and life safety segment experienced a notable organic growth of 5.6%, surpassing expectations. Additionally, the specialty business showed resilience with a 13.3% organic growth despite challenging macroeconomic conditions.
Moreover, APi Group’s EBITDA margins improved by 30 basis points year-over-year, reaching 13.7%. This margin expansion, coupled with the company’s strong performance in the second quarter, contributed to the raised full-year EBITDA guidance. The positive outlook for the latter half of the year further supports the Buy rating, indicating confidence in the company’s continued growth trajectory.
In another report released on July 17, Robert W. Baird also maintained a Buy rating on the stock with a $35.00 price target.