Citi analyst Arthur Truslove downgraded UL Solutions (ULS) to Neutral from Buy with a price target of $71, up from $60.50. The firm says the company’s execution continues to exceed consensus expectations. However, the stock now trades on a 12-month forward consensus price-to-earnings ratio of 38.6-times, a premium of just under 100% to the average of Intertek, Bureau Veritas, and SGS, the analyst tells investors in a research note. Citi cites valuation for the downgrade.
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Read More on ULS:
- Strategic Growth and Scarcity Value Drive Buy Rating for UL Solutions Inc.
- UL Solutions price target raised to $77 from $59 at Stifel
- UL Solutions price target raised to $72 from $58 at UBS
- UL Solutions price target raised to $72 from $70 at Raymond James
- UL Solutions price target raised to $73 from $60 at Baird
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