Bank of America Initiates Coverage on UL Solutions (NYSE:ULS)

by · The Markets Daily

Research analysts at Bank of America initiated coverage on shares of UL Solutions (NYSE:ULS – Get Free Report) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $86.00 price target on the stock. Bank of America‘s price objective indicates a potential upside of 22.87% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of UL Solutions from $77.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. restated a “neutral” rating and set a $84.00 price target (up previously from $70.00) on shares of UL Solutions in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of UL Solutions in a report on Monday, December 29th. UBS Group reduced their price objective on UL Solutions from $96.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. Finally, Robert W. Baird set a $97.00 price target on UL Solutions and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.88.

Get Our Latest Analysis on UL Solutions

UL Solutions Stock Up 1.4%

Shares of NYSE:ULS opened at $70.00 on Tuesday. UL Solutions has a 1 year low of $49.34 and a 1 year high of $91.95. The company has a market capitalization of $14.06 billion, a PE ratio of 41.91 and a beta of 1.12. The business has a fifty day moving average price of $76.18 and a two-hundred day moving average price of $74.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33.

Hedge Funds Weigh In On UL Solutions

Hedge funds have recently bought and sold shares of the company. Capital Financial Group Inc. Co. ADV bought a new stake in UL Solutions during the 4th quarter worth approximately $242,000. OMERS ADMINISTRATION Corp purchased a new position in shares of UL Solutions during the 4th quarter valued at $584,000. Squarepoint Ops LLC bought a new position in shares of UL Solutions in the fourth quarter worth $5,037,000. Sculptor Capital LP purchased a new stake in shares of UL Solutions in the fourth quarter worth $2,760,000. Finally, Senator Investment Group LP raised its position in shares of UL Solutions by 9.1% in the fourth quarter. Senator Investment Group LP now owns 300,000 shares of the company’s stock worth $23,658,000 after buying an additional 25,000 shares in the last quarter.

About UL Solutions

(Get Free Report)

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.

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