Oppenheimer Raises Service Corp International Target Price

Service International shares were higher 1% on Friday as Oppenheimer raised its price target on the stock to $39 from $37 while reiterating an outperform rating.

Oppenheimer said company is “effectively leveraging its size and scale as the leader within the sizable $19 billion deathcare industry, which possesses favorable demographic tailwinds.” “As the majority of the “Silent Generation” reaches its life expectancy in coming years, we anticipate a gradual build in funeral volume, with incremental volume via the aging “Baby Boomers” thereafter,” Oppenheimer analysts Scott Schneeberger and Daniel Hultberg said in a note. “Nearer term, we anticipate continued business momentum via Cemetery pre-need sales growth.”

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