ADT - ADT upgraded at Deutsche Bank on Google solution potential

Following fireside chats with company management, Deutsche Bank upgrades ADT (ADT) from Hold to Buy and rasies the price target from $8 to $10.Analyst Kunal Madhukar has grown more bullish on the ADT+ Google solution, which "could be more robust than we had initially thought, especially with the software/applications that the company can add by leveraging Google's deep tech expertise in mobile, AI, and image recognition."The analyst notes that "there may still be investor perception of large shareholder selling into the strength," but says "the longer term upside potential" could "outweigh any short-term volatility."ADT shares are up 7.2% pre-market to $8.42.Last month, ADT shares pulled back after competitor Vivint filed a patent infringement suit.

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ADT upgraded at Deutsche Bank on Google solution potential