19:13:50 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Park Lawn Corp
Symbol PLC
Shares Issued 34,272,395
Close 2023-11-10 C$ 16.60
Market Cap C$ 568,921,757
Recent Sedar Documents

Globe says Nattel keeps Park Lawn at "outperform"

2023-11-10 08:21 ET - In the News

The Globe and Mail reports in its Friday, Nov. 10, edition that RBC Capital Markets analyst Irene Nattel has reaffirmed her "outperform" recommendation for Park Lawn. The Globe's David Leeder writes in the Eye On Equities column that Ms. Nattel knocked her share target back by $2 to $25. Analysts on average target the shares at $27.44. Ms. Nattel says in a note: "Q3/23 results a hair below forecast, underlying trends reflective of normalization of death rates and lower preneed sales. Early look at reclassification of assets/liabilities to reflect imminent sale of under-performing assets reaffirms our view that while overall earnings will take a step back, surfacing of capital to fund high-grading of assets is a very sensible decision from this highly focused, return-oriented management team. Our forecasts do not yet reflect the asset sales pending details around line items, but we reiterate our view that net impact should be very modest with NT EPS dilution estimated 2 per cent." The Globe reported on July 18 that Ms. Nattel had reaffirmed her "outperform" recommendation for Park Lawn. The shares could then be had for $24.

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