Rollins initiated with an Overweight at JPMorgan

JPMorgan analyst Tomohiko Sano initiated coverage of Rollins (ROL) with an Overweight rating and $70 price target implying 24% upside from current levels. The firm says the company has one of the most resilient models in industrials, with 80% of revenue generated from recurring service contracts, and a “vast untapped market opportunity.” The $20B U.S. pest control industry remains under-penetrated, offering Rollins a “runway to compound growth for decades,” the analyst tells investors in a research note.