The Globe and Mail reports in its Wednesday, Jan. 10, edition that analysts at Acumen Capital have named Alaris Equity Partners Income Trust one of their "Top Ideas" for 2024. The Globe's David Leeder writes in the Eye On Equities column that the Acumen analysts have reaffirmed their "buy" recommendation and $21.50 unit target. Analysts on average target the units at $19.92.
The Acumen analysts say in a note: "Despite a strong year in 2023 operationally, Alaris Equity stock was volatile driven largely by increased interest rates and ended the year up marginally. We continue to see Alaris as significantly better positioned today than in the past, while the stock is trading near all-time lows relative to book value and is expected to continue trending higher in 2024." The Globe reported on Oct. 19, 2022, that Desjardins Securities analyst Gary Ho rated Alaris "buy." It was then worth $15.47. The Globe reported on Feb. 9, 2023, that Mr. Ho continued to rate the units "buy." In the item, Mr. Ho said he expected "outsized returns" from Alaris. The units could then be had for $18.34.
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