ServiceMaster (SERV) PT Raised to $38 at Piper Jaffray

Piper Jaffray analyst George Tong reiterated an Overweight rating and boosted his price target on ServiceMaster (NYSE: SERV) to $38.00 (from $35.00) following Q4 results.

Tong commented, "4Q results demonstrate ServiceMaster's ability to execute on new product introductions, penetrate the home warranty market and achieve significant operating leverage to drive earnings growth. With strong revenue visibility, high margin flow-through, attractive growth levers and a clear path to financial de-levering, we see an accelerating earnings outlook with room for valuation multiple expansion to converge with peer Rollins. We reiterate our Overweight rating."

The firm raised FY 2015 EPS from $1.43 to $1.62 and FY 2016 EPS form $1.60 to $1.78.

For an analyst ratings summary and ratings history on ServiceMaster click here. For more ratings news on ServiceMaster click here.

Shares of ServiceMaster closed at $34.10 yesterday.

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