Parkland Fuel (PKI) Gets a Buy Rating from Scotiabank


Yesterday, an analyst has provided a rating update for the Services sector company, Parkland Fuel (TSX: PKI). The company received a Buy rating from Scotiabank’s analyst Benoit Laprade, with a C$38.50 price target.

According to TipRanks.com, Laprade is a 4-star analyst with an average return of 4.0% and a 69.2% success rate. Laprade covers the Consumer Goods sector, focusing on stocks such as Fibria Celulose SA, Resolute Forest, and Methanex Corp.

Read also: Another Wall Street Analyst Just Dumped Helios and Matheson (HMNY)

Parkland Fuel has an analyst consensus of Strong Buy, with a price target consensus of C$39.90, representing a 5.2% upside. In a report issued on July 24, Canaccord Genuity also maintained a Buy rating on the stock with a C$44 price target.

.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts