ADT strikes an important alliance

Article Excerpt

ADT INC. $12 is a buy. The company (New York symbol ADT; Shares outstanding: 760.8 million; Market cap: $9.1 billion; Dividend yield: 1.2%; Takeover Target Rating: Medium; www.adt.com) is a leading provider of monitored security products and services to residential and commercial customers in the U.S. and Canada. It has more than six million residential and small business customers. The company has formed a new alliance with Google to provide North Americans with a smart home security offering. The partnership will combine Google’s Nest line of surveillance cameras, Internet-connected speakers and other home devices, with ADT’s installation and monitoring services. Note: Alphabet Inc., Nasdaq symbols GOOG (class C non-voting) and GOOGL (class A voting), is the holding company for Google and a recommendation of our Wall Street Stock Forecaster newsletter. Google will also invest $450 million in ADT non-voting class B common stock. Overall, Google will then hold a 6.6% interest in ADT. ADT is a buy. buy…