Acuren Corp. (TIC) Soars 22.9% as Investors Bargain-Hunt

We recently published 10 Stocks Stole the Show, 5 Hit Historic Highs. Acuren Corporation (NYSE:TIC) is one of the best performers on Thursday.

Acuren climbed by 22.94 percent on Thursday to close at $13.45 apiece as investors resorted to bargain-hunting following four straight days of decline.

The company, a leading provider of critical asset integrity services, recently received a bullish rating from Jefferies’ initial coverage for its stock, with a $16 price target and a “buy” recommendation. The price target marked an 18.9 percent upside potential from its latest closing price.

Photo by Rachael Gorjestani on Unsplash

According to Jefferies, its positive rating was based on optimism for Acuren Corporation (NYSE:TIC) to expand its EBITDA margins by approximately 200 basis points to 18 percent over the next two years on the back of cost synergies from its NV5 acquisition, alongside operating leverage and strategic business improvements.

Acuren Corporation (NYSE:TIC) recently completed its merger with NV5 Global, Inc., creating a market-leading North American provider of TICC and engineering services across critical industrial assets, public infrastructure, and the built environment.

Additionally, Jefferies was optimistic that Acuren Corporation (NYSE:TIC) can achieve more than a 20 percent increase in EBITDA margins in the long term through improved pricing strategies and scale benefits from continued industry consolidation.

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Disclosure: None. This article is originally published at Insider Monkey.