Scotiabank Believes Parkland Fuel (PKI) Still Has Room to Grow


In a latest note to investors, a research analyst has provided a rating update for the Services sector company, Parkland Fuel (TSX: PKI). Analyst Benoit Laprade from Scotiabank remains bullish on the stock and has a C$43 price target.

According to TipRanks.com, Laprade is a 4-star analyst with an average return of 4.6% and a 71.2% success rate. Laprade covers the Consumer Goods sector, focusing on stocks such as Fibria Celulose SA, Resolute Forest, and Methanex Corp.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Parkland Fuel with a C$44.42 average price target, a 10.7% upside from current levels. In a report issued on August 3, Canaccord Genuity also maintained a Buy rating on the stock with a C$50 price target.

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Parkland Fuel’s market cap is currently C$5.33B and has a P/E ratio of 36.6. The company has a Price to Book ratio of 3.16.

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 Thursday at C$40.14, close to its 52-week high of C$41.02.

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