UL Solutions upgraded to Outperform from Neutral at Baird

Baird upgraded UL Solutions (ULS) to Outperform from Neutral with an unchanged price target of $97. The firm cites the stock’s recent underperformance and the company’s accelerating underlying earnings growth for the upgrade. UL’s business has good recurring revenue, “excellent” secular exposure to growth markets, and a leading competitive position, the analyst tells investors in a research note. Baird recommends using the recent share weakness as an opportunity to build an overweight position “as a long-term core holding.”