The Globe and Mail reports in its Friday, April 26, edition that Desjardins Securities analyst Lorne Kalmar continues to rate Storagevault Canada "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Kalmar trimmed his share target by 25 cents to $6, matching the consensus. Mr. Kalmar says in a note: "FFOPS [funds from operations per share] of four cents was up 3 per cent year-over-year but came in below our forecast and consensus. On the positive side, SP NOI [same-property net operating income] was up 5.2 per cent (4Q23 5.1 per cent). While results were below expectations, we are not putting too much emphasis on the miss as Q1 is typically a seasonally weak quarter -- we still believe Storagevault Canada is capable of generating high-single-digit/low-double-digit FFOPS growth on a run-rate basis." The Globe reported on Oct. 27 and Feb. 23 that Mr. Kalmar had reaffirmed his "buy" recommendation for Storagevault Canada when it could be had for $4.30 and $5.38. The Globe reported on Dec. 22 that RBC Dominion Securities analysts Pammi Bir, Jimmy Shan and Tom Callaghan had reaffirmed their "outperform" recommendation on Storagevault when it was worth $5.11.
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