The Services sector company, Alimentation Cl A MV (TSX: ATD.A), has received a rating update from a Wall Street analyst today. Analyst Derek Dley from Canaccord Genuity reiterated a Buy rating, with a C$73 price target.
Dley wrote:
“We are reiterating our BUY recommendation and target price of C$73.00 ahead of the company’s Q1/F19 financial results.”
Dley has an average return of 2.2% when recommending Alimentation Cl A MV.
According to TipRanks.com, Dley is ranked #472 out of 4866 analysts.
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Currently, the analyst consensus on Alimentation Cl A MV is a Strong Buy with an average price target of C$74.67, implying a 19.3% upside from current levels. In a report released yesterday, Barclays also maintained a Buy rating on the stock with a C$73 price target.
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Based on Alimentation Cl A MV’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of C$523 million. In comparison, last year the company had a net profit of C$482 million.
Alimentation Couche-Tard, Inc. engages in the operation of independent convenience stores. It sells goods for immediate consumption, road transportation fuel, and other products mainly through company-operated stores and franchises stores.
The company’s shares closed on Tuesday at C$62.61.
