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APi Group’s Analyst Day Takeaways

RBC Capital analysts provided their key takeaways from APi Group Corporation (NYSE:APG) Analyst Day. According to the analysts, the company provided the building blocks to fiscal 2025 targets, focused on branch-level improvements increasing Chubb synergies to over $100 million (from $40mm and $20mm pre-close), where the Chubb deal is approximately $0.20 accretive to fiscal 2022 EPS.
The company outlined its path to fiscal 2025’s 13% EBITDA margin target driven by improved service mix, procurement, savings, and inflation offset, Chubb Value Capture, and systems scale and leverage bridging from the 10.5% base.
The analysts raised their price target to $20 from $18 while reiterating their Sector Perform rating.

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