14:59:51 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



Park Lawn Corp
Symbol PLC
Shares Issued 34,272,395
Close 2023-11-13 C$ 15.86
Market Cap C$ 543,560,185
Recent Sedar Documents

Globe says Stifel's Landry keeps Park Lawn at "buy"

2023-11-14 08:17 ET - In the News

The Globe and Mail reports in its Tuesday, Nov. 14, edition that Stifel analyst Martin Landry continues to rate Park Lawn "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Landry slashed his share target by $8 to $22. Analysts on average target the shares at $25.50. Park Lawn shares have taken a hit on disappointing third quarter per share earnings. Mr. Landry says Park Lawn's "depressed" valuation offers investors an "attractive entry point." Mr. Landry says in a note: "In October, Park Lawn announced the divestiture of 72 cemeteries and 11 funeral homes, which do not fit the company's long-term goals anymore. This will create near-term noise in Park Lawn's financial results but should allow the company to build off a stronger base, in our view. This should translate into improvements in Park Lawn's financial performance starting with a higher and more stable margin profile. Additionally, the implementation of FaCTS [a new funeral and cemetery technology solution] should continue to enable significant margin benefits as visibility on field margins improves, enabling management to better manage KPIs on a rooftop by rooftop basis."

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