Perimeter Solutions upgraded to Buy from Neutral at UBS

UBS upgraded Perimeter Solutions (PRM) to Buy from Neutral with a price target of $30, up from $26. The stock sell-off is overdone as the company has continued to execute well and deploy cash into accretive acquisitions, the analyst tells investors in a research note. One of the main drivers of the sell-off was a larger variable comp payment to management persisting through 2031, but the high water mark for future payments is near $28 per share, the firm added.