Service Corp. initiated with an Overweight at JPMorgan

JPMorgan analyst Tomohiko Sano initiated coverage of Service Corp. (SCI) with an Overweight rating and $110 price target Following the firm’s recent site visit to headquarters and Memorial Oaks in Houston, JPMorgan is reaffirming Service Corp’s leadership in a fragmented industry, driven by unmatched scale, a robust preneed backlog, and disciplined M&A, the analyst tells investors in a research note. Key catalysts for the stock include the aging Baby Boomer generation, demographic tailwinds, margin expansion, and resilient cash flow, the firm added.