Brokerages initiate coverage on Advent-backed NIQ as quiet period winds down
** Shares of consumer insights company NIQ Global NIQ.N up ~2% premarket
** At least nine brokerages initiate coverage on the stock as research quiet period winds down
** Company secured a valuation of $6.1 billion after shares opened at $20.25 apiece in its NYSE debut, slightly below IPO price of $21 per share
** NIQ is the leader in global consumer product measurement and a primary "system of record" for CPG (consumer packaged goods) manufacturers - J.P.Morgan
** Brokerage Needham believes the health of the business has improved substantially since NIQ exited the public spotlight in 2021
** J.P.Morgan, BofA Securities and UBS Investment Bank were among the underwriters for the IPO
** Following are some of the ratings and PTs on the stock:
Brokerage | Rating | PT |
J.P.Morgan | Overweight | $21 |
Barclays | Overweight | $24 |
Wells Fargo | Overweight | $21 |
Stifel | Buy | $24 |
BMO | Outperform | $24 |
Deutsche Bank | Hold | $21 |
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