What's Going On With First Advantage Shares Thursday?
Portfolio Pulse from Dylan Berman
First Advantage Corporation (NASDAQ:FA) shares are trading lower after Wolfe Research downgraded the stock from Outperform to Peer Perform, withdrawing its $20 price target and setting a fair value range of $20 to $23. Wolfe remains optimistic about the company's structural strength and potential benefits from vendor consolidation trends, but is concerned about declining employee separation and quit rates. The acquisition of STER is seen as beneficial for diversification and global presence.
October 10, 2024 | 6:20 pm
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First Advantage shares fell after Wolfe Research downgraded the stock to Peer Perform, citing a fair value range of $20-$23. Wolfe is optimistic about vendor consolidation trends but concerned about declining employee separation rates. The STER acquisition is seen as beneficial.
The downgrade by Wolfe Research directly impacts First Advantage's stock price, leading to a decline. The fair value range suggests limited upside potential in the short term. Concerns about employee separation rates could affect growth, while the STER acquisition provides some positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100