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Canaccord Genuity Thinks Dollarama’s Stock is Going to Recover


Today, an analyst has provided a rating update for the Services sector company, Dollarama (TSX: DOL). The company received a Buy rating from Canaccord Genuity’s analyst Derek Dley, with a C$55 price target.

Dley has an average return of 20.9% when recommending Dollarama.

According to TipRanks.com, Dley is ranked #413 out of 4875 analysts.

Dollarama has an analyst consensus of Moderate Buy, with a price target consensus of C$50.95, which is a 21.3% upside from current levels. In a report issued on September 6, Industrial Alliance Securities also upgraded the stock to Buy with a C$54.50 price target.

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The company has a one-year high of C$56.67 and a one-year low of C$41.63. Currently, Dollarama has an average volume of 773.2K.

Dollarama, Inc. engages in the operation of dollar store chain It offers a broad range of consumer products and general merchandise for everyday use, in addition to seasonal products. The company was founded by Lawrence Rossy in 1992 and is headquartered in Montreal, Canada.

The company’s shares closed on Friday at C$41.95, close to its 52-week low of C$41.63.