APi Group price target raised to $52 from $45 at RBC Capital

RBC Capital analyst Ashish Sabadra raised the firm’s price target on APi Group (APG) to $52 from $45 and keeps an Outperform rating on the shares. The company outlined its growth strategy, focusing on mid-single-digit organic growth and the ongoing shift towards regulatory-driven, higher-margin, recurring revenues from inspections, services, and monitoring, the analyst tells investors in a research note. APi’s new financial targets should also be well-received by investors while its free cash flow generation and low net leverage should continue to support continued accretive M&A, RBC adds.