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Investing.com - Baird initiated coverage on Acuren Corp. (NYSE:TIC) with a Neutral rating and a $15.00 price target on Thursday. The target sits within the broader analyst range of $14-$17, with the stock currently trading at $13.33.
The research firm cited Acuren’s value-creating business model, recurring revenue components, and strong competitive positioning in non-destructive testing (NDT) as key positive factors.
Baird noted potential for margin improvement through the integration of NV5, along with the possibility of attracting additional shareholder interest, particularly from SPAC sponsors with successful track records.
The firm identified several risk factors, including challenges with NV5 integration, Acuren’s recent de-SPAC transaction, and stock performance partially driven by retail investor interest.
While expressing caution about potential downward pressure on 2026 estimates ahead of initial guidance, Baird acknowledged "quite good long-term potential exists upon positive execution."
In other recent news, Acuren Corporation reported a 1.5% increase in service revenues for Q2 2025, reaching $313.9 million. However, the company’s adjusted EBITDA decreased to $54.6 million from $59.1 million the previous year, indicating a reduction in EBITDA margin from 19.1% to 17.4%. The company has also announced a strategic acquisition of NV5 for $1.7 billion, which marks a significant development in its growth strategy. Following this acquisition, Acuren will rebrand as TIC Solutions, Inc. effective October 10, 2025, while maintaining its NYSE ticker symbol "TIC."
In a related development, Acuren has entered into a definitive agreement to sell $250 million in securities to an existing investor, with the transaction expected to close around October 7. Analyst firm UBS maintained a Neutral rating on Acuren, citing a weak Q3 outlook with revenue and adjusted EBITDA below estimates. Conversely, Jefferies initiated coverage with a Buy rating, highlighting potential margin expansion driven by synergies from the NV5 acquisition. These recent developments reflect Acuren’s ongoing efforts to enhance its market position and financial performance.
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