Defensive Growth and Synergy-Driven Upside: Initiating Buy on TIC Solutions Post-NV5 Integration
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Acuren Corporation (TIC) has been given a Buy rating by J.P. Morgan analyst Tomohiko Sano, citing its resilient business model and improving financial profile. The successful integration of NV5 is expected to yield cost savings and cross-selling opportunities. Despite elevated leverage post-acquisition, Sano believes disciplined execution will enhance the balance sheet. He values TIC shares at $16, indicating a 50% upside, supported by long-term growth in infrastructure, energy transition, and data centers. Sano recommends an Overweight/Buy rating based on defensive revenues and synergy-driven margin improvements.
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