Diversey initiated with a Market Perform at BMO Capital

BMO Capital analyst John McNulty initiated coverage of Diversey with a Market Perform rating and $5.80 price target. Diversey offers investors a "solid runway" for long-term sales growth, targeting the highly fragmented global institutional cleaning and sanitizing market, McNulty tells investors in a research note. However, the company’s balance sheet, with significant leverage at a time of macro and inflationary uncertainty, "brings reasonable risk," says the analyst.