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Berenberg Bank Lifts SiteOne Landscape Supply Price Target to $237 From $207
Sep 15, 2021(Last modified: Dec 19, 2023)
Analysts at Berenberg Bank increased their price target on SiteOne Landscape Supply, Inc. (NYSE:SITE) to $237 from $207, reiterating their positive view on the company as the ongoing spend on outdoor living spaces over the past year, a strong construction market, and margin benefits from its operational initiatives continue to benefit the company. This makes the company lift its full 2021-year guidance to $3,325 million.
According to the brokerage the double-digit organic growth during the pandemic has strongly outperformed the company's historical mid-single-digit organic growth, which lead the analysts to view the company's roll-up acquisition strategy and internal technology initiatives to be adding value to its location portfolio and could result in faster long-run growth.
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