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UBS has upgraded Agiliti (NYSE:AGTI) to buy, commenting that the company has “more levers to drive upside.”
The investment bank said it was upgrading the stock ahead of cost improvement upside, execution of its turnaround plan and "a solution for a challenged customer base.”
UBS added that it believes the market is pricing in mid-single digit EBITDA growth versus its estimate for EBIDTA growth outpacing revenue growth in the high single digits in fiscal year 2025.
The bank added that it anticipates “this call working as AGTI demonstrates that the turnaround is underway,” noting that the company’s longtime CEO has returned.
Despite the upgrade, UBS lowered its price target for the stock to $10 from $16.