Texas Capital starts Acuren at Buy, sees cross-selling opportunities

Texas Capital analyst Alexander Rygiel initiated coverage of Acuren (TIC) with a Buy rating and $17 price target The combined company of Acuren and NVT has significant cross-selling opportunities and cost synergies that should drive solid mid-single digit percentage year-over-year revenue growth and margin expansion opportunities longer-term, the analyst tells investors in a research note. The firm added that the company maintains a solid balance sheet and while management is focused on integrating the two businesses in the near-term, it believes tuck-in acquisitions will continue.