The Globe and Mail reports in its Tuesday, June 28, edition that a new report from CIBC World
Markets says Cott is one of the top
20 S&P/TSX composite index
stocks with the most exposure to
the British pound. The Globe's Karen Ho writes that net revenue at the soft drink and
beverage company's British division
in 2015 was $557-million,
representing 18.9 per cent of the
company's total revenue for the
fiscal year ended Jan. 2, 2016. The
division also represents 9.1 per
cent of Cott's gross profit for 2015
and 28.1 per cent of the company's
operating profit.
On Monday Cott shares gave back $1.14 to close in Toronto at $17.30. The Globe reported on April 9 that Canaccord Genuity analyst Derek Dley rated Cott "buy." In the item, Mr. Dley said: "In our view, Cott represents a business which has (and continues to be) transformed from one focused on declining legacy categories, to a strong free cash flow generator with a strategic and visible growth profile. ... We encourage investors to accumulate shares." Cott shares could then be had for $18.58.
© 2024 Canjex Publishing Ltd. All rights reserved.