RBC Capital Thinks Dollarama’s Stock is Going to Recover
Dollarama (TSX: DOL), the Services sector company, was revisited by a Wall Street analyst yesterday. The company received a Buy rating from RBC Capital’s analyst Irene Nattel, with a C$52 price target.
Nattel has an average return of 20.0% when recommending Dollarama.
According to TipRanks.com, Nattel is ranked #1711 out of 4872 analysts.
Dollarama has an analyst consensus of Strong Buy, with a price target consensus of C$54.94, implying a 27.4% 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.
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 Thursday at C$43.12, close to its 52-week low of C$41.63.