Barclays Downgrades ADT to Underweight From Equal Weight, Adjusts PT to $7 From $9

AI Briefing

• – Barclays cuts ADT's target price to $7 from $9, downgrading the rating to Underweight from Equal Weight.
• – The downgrade reflects the company's concerns over ADT's high operating expense growth and increasing competition in the security industry.
• – Barclays estimates ADT's revenue will grow at a slower pace in the coming years due to declining demand for traditional security services.