BUZZ-UL Solutions slips as parent to trim stake in safety testing firm
Shares of UL Solutions fell 2.1% post-market to $87 after a secondary offering was launched, reducing the parent company's stake. The offering, led by Goldman Sachs and JP Morgan, will decrease ULSE's holdings to about 125.6 million shares. UL Solutions has approximately 201 million shares outstanding. The stock closed down 1.5% at $88.85, with a year-to-date gain of 78%. Analysts' ratings include 5 'strong buy' or 'buy' and 6 'hold', with a median price target of $96, up from $72 a month ago.
Shares of UL Solutions (ULS.N) down 2.1% post-market to $87 after secondary offering launched
Northbrook, Illinois-based safety testing co
Goldman Sachs and JP Morgan are lead bookrunners for offering Sale would take ULSE’s holdings to about 125.6 mln shares, per the offering prospectus
Co has about 201 mln total shares outstanding
ULS shares on Tues closed down 1.5% at $88.85, trimming YTD gain to 78%
5 of 11 analysts covering ULS rate stock “strong buy” or “buy”, 6 rate “hold”; median PT of $96 up from $72 a month ago, per LSEG data (Lance Tupper is a Reuters market analyst. The views expressed are his own)
