17:15:16 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Calian Group Ltd
Symbol CGY
Shares Issued 11,834,924
Close 2024-02-16 C$ 59.61
Market Cap C$ 705,479,820
Recent Sedar Documents

Globe says Desjardins keeps Calian Group at "buy"

2024-02-16 07:27 ET - In the News

The Globe and Mail reports in its Friday edition that Desjardins analyst Benoit Poirier is sticking with his "buy" recommendation for Calian Group. The Globe's David Leeder writes that Mr. Poirier gave his share target an $8 boost to $86. Analysts on average target the shares at $75.75. Mr. Poirier says in a note: "We have just returned from Calian Group's well-attended investor day, where management outlined its new capital strategy and how it will achieve $1-billion in revenue by FY26. Our takeaway is positive as it seems management will take a more aggressive approach on the M&A front, with acquisitions driving the majority of the growth. Greater leveraging of the balance sheet should be welcomed by investors as Calian Group has historically been quite conservative with its use of debt, which has likely hurt from a return perspective." The Globe reported on Nov. 29, 2022, that Mr. Poirier said he was maintaining his "bullish stance" on Calian Group. He said, "We view Calian Group as a 'must own' name given its pristine balance sheet and recession-resilient business." The shares could then be had for $64.20. The Globe reported on Jan. 10, 2024, that Acumen rated Calian "buy." It was then worth $54.14.

© 2024 Canjex Publishing Ltd. All rights reserved.