Perimeter Solutions upgraded to Buy from Neutral at UBS

UBS upgraded Perimeter Solutions (PRM) to Buy from Neutral with an unchanged price target of $14. The company has shown the power of its operating model, lifting recurring EBITDA by over 70% on a similar fire season in 2024 relative to 2021, the analyst tells investors in a research note. However, UBS points out the shares have declined over 30% since mid-January. The firm sees the dip as a buying opportunity, with its price target reflecting 50% potential upside.