The Globe and Mail reports in its Friday, June 2, edition that BMO Capital Markets analyst Peter Sklar is holding firm on to his "outperform" ranking for Parkland. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sklar raised his share target for Parkland to $40 from $35. Analysts on average target the shares at $40.08.
Mr. Sklar says in a note: "We are updating estimates for Parkland Fuel and increasing our target price which reflects valuation adjustments in line with newly segmented results. We are also reiterating our 'outperform' rating. Parkland is undergoing a transition of sorts, taking a pause on inorganic growth, with a near-term focus on reducing leverage and optimizing its current business units." The Globe reported on Oct. 26 that Desjardins had reaffirmed its "buy" call for Parkland. It was then worth $27.41. The Globe reported on Dec. 10 that National Bank Financial analyst Vishal Shreedhar had reaffirmed Parkland at "outperform." It was then worth $29.92. The Globe reported on March 24 that IA Capital Markets analyst Matthew Weekes had reaffirmed his "buy" recommendation for Parkland. The shares could then be had for $30.74.
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