BUZZ-Brokerages initiate coverage on Advent-backed NIQ as quiet period winds down

Reuters
08/18
BUZZ-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

(Reporting by Joel Jose in Bengaluru)

((joeljose@thomsonreuters.com;))

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