Service Corp. price target raised to $97 from $94 at Oppenheimer

Oppenheimer raised the firm’s price target on Service Corp. (SCI) to $97 from $94 and keeps an Outperform rating on the shares. The firm says it is drawn to Service Corp.’s steady, relatively resilient growth, and favorable long-term investment profile on a standalone basis. Furthermore, the company’s business activity isn’t likely to be meaningfully impacted by market uncertainty/elevated oil prices, and its model isn’t anticipated to be disrupted by AI, Oppenheimer argues. Still perceived to be recovering post a sizable pandemic pull-forward, and overshadowed by alternative investments, Service Corp. has underperformed the S&P 500 by more than 1,400 bps over the past year. However, it appears to have returned to status quo.