Analysts seem to be feeling optimistic about Dollarama (DOL) lately, as after RBC Capital and Scotiabank rated the stock a Buy this past month, there is another positive note, this time from Raymond James. Analyst Kenric Tyghe reiterated a Buy rating, with a C$42 price target today.
According to TipRanks.com, Tyghe is a 2-star analyst with an average return of 0.2% and a 42.6% success rate. Tyghe covers the Services sector, focusing on stocks such as Loblaw Companies Limited, Dollarama Inc, and Cineplex.
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Currently, the analyst consensus on Dollarama is a Strong Buy with an average price target of C$42, representing a 19.3% upside. In a report issued on March 13, RBC Capital also reiterated a Buy rating on the stock with a C$46 price target.
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Based on Dollarama’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of C$134 million. In comparison, last year the company had a net profit of C$163 million.
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 Thursday at C$35.20.
