(Reuters) - Guardian Pharmacy Services said on Monday it was targeting a valuation as much as $973.5 million in its initial public offering in the United States.

Expectations of an imminent interest rate cut by the U.S. Federal Reserve is encouraging more companies to press ahead with their listing plans.

Guardian Pharmacy is aiming to raise as much as $108 million by offering 6.75 million shares at a price range of $14 to $16 each.

The company plans to list on the New York Stock Exchange under the symbol "GRDN".

Raymond James, Truist Securities and Stephens Inc are the underwriters for the offering.