Service International, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Joanna Gajuk from Bank of America Securities maintained a Buy rating on the stock and has a $98.00 price target.
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Joanna Gajuk’s rating is based on several key factors that suggest a positive outlook for Service International (SCI). The company’s visitation trends have shown stability, with a slight increase in average daily visits in August compared to the previous month. This stability in visitation trends is consistent with SCI’s pre-need sales growth, which is expected to increase by 5% in the third quarter, aligning with the company’s outlook for low to mid-single-digit growth in the second half of the year.
Additionally, the company’s financial health is supported by solid cash flows and potential for capital deployment, contributing to an attractive long-term growth outlook. The performance in key states like California and Florida, where visitation rates have increased, also supports the positive rating. Overall, these factors combined with the company’s strategic positioning and market trends justify the Buy rating with a price objective of $98.00 USD.
In another report released on September 15, Truist Financial also reiterated a Buy rating on the stock with a $92.00 price target.