Parkland Fuel (TSX: PKI), the Services sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Kevin Chiang from CIBC rated Parkland Fuel (TSX: PKI) a Buy, setting a C$44.50 price target.
Chiang has an average return of 12.6% when recommending Parkland Fuel.
According to TipRanks.com, Chiang is ranked #364 out of 4848 analysts.
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Currently, the analyst consensus on Parkland Fuel is a Strong Buy with an average price target of C$43.40, a 14.4% upside from current levels. In a report issued on July 23, Desjardins also reiterated a Buy rating on the stock with a C$38 price target.
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Based on Parkland Fuel’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$3.34 billion and net profit of C$20 million. In comparison, last year the company had a GAAP net loss of C$1.4 million.
Parkland Fuel Corp. engages in the market and distribution of petroleum products. It delivers gasoline, diesel fuel, lubricants, heating oil and other products to businesses, consumers and wholesale customers. The company operates through the following business segments: Retail Fuels, Commercial Fuels, Parkland USA, Supply and Wholesale; and Corporate.
The company’s shares closed on Friday at C$37.93, close to its 52-week high of C$38.62.
