20:23:00 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Onex Corp
Symbol ONEX
Shares Issued 102,787,628
Close 2017-01-16 C$ 89.13
Market Cap C$ 9,161,461,284
Recent Sedar Documents

Post says Canaccord's Chan upbeat on Onex

2017-01-17 09:48 ET - In the News

The Financial Post reports in its Tuesday edition that two of Onex's private holdings could be worth much more than previously thought, according to Canaccord Genuity analyst Scott Chan, who raised his price target on the stock (last $89.13) to $100 from $95. The Post's Jonathan Ratner, writing in Trading Desk, says that Jeld-Wen and USI Insurance are forecasted to be worth $2.59 and $2.41 in additional net asset value, respectively. "We note that potential monetization is likely for both near term," Mr. Chan told clients in a note. Jeld-Wen, a maker of energy-efficient windows and doors, filed a preliminary prospectus in June, 2016, to prepare for a potential initial public offering. The analyst believes that could happen in the first half of 2017. Onex may also be considering a sale of USI in a deal that would value the U.S. insurance brokerage as high as $4-billion (U.S.). Mr. Chan also highlighted other near-term monetization opportunities for Onex, include medical imaging company Carestream Health and U.S. home care provider ResCare. Carestream was the subject of sale speculation in May, 2016, that valued it at more than $3-billion (U.S.). Onex purchased the company for $2.3-billion (U.S.) in 2007.

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