The Globe and Mail reports in its Friday, April 19, edition that CIBC analyst Krista Friesen has reaffirmed her "neutral" recommendation for AutoCanada. The Globe's David Leeder writes in the Eye On Equities column that Ms. Friesen boosted her share target to $25 from $22. Analysts on average target the shares at $28.40. Ms. Friesen says in a note: "As we head into Q1 reporting season, we expect many of the same themes that dominated Q4 earnings to be topical this quarter. For the suppliers, we believe the difference this time is that much of the bad news has been accounted for in their share prices, with the companies trading at historically low valuation on EV/EBITDA and P/B. ... [We have] raised our price target for AutoCanada." The Globe reported on Dec. 24, 2022, that Ms. Friesen had cut AutoCanada to "neutral" from "outperformer." It was then worth $23.10. The Globe reported on Dec. 15, 2023, and March 8, 2024, that National Bank analyst Maxim Sytchev rated AutoCanada "sector perform" when it was worth $20.89 and $21.74.
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