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Raymond James Thinks Dollarama’s Stock is Going to Recover


Wall Street analyst has provided a review for the Services company today, but retained the same rating on the stock. Dollarama (TSX: DOL) received a Buy rating from Raymond James’ analyst Kenric Tyghe, with a C$50 price target.

According to TipRanks.com, Tyghe is ranked #953 out of 4875 analysts.

Dollarama has an analyst consensus of Moderate Buy, with a price target consensus of C$50.95, implying a 21.5% 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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Based on Dollarama’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of C$102 million. In comparison, last year the company had a net profit of C$132 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 Friday at C$41.85, close to its 52-week low of C$41.63.