The Globe and Mail reports in its Wednesday, June 24, edition that citing its valuation and improving fundamentals, BMO Nesbitt Burns analyst Jonathan Lamers raised Uni-Select ($7.18) to "outperform" from "market perform" with a $10 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $6.13.
Mr. Lamers says in a note: "Operating results performed in line with or better than recovering end markets in May, end market indicators suggest demand recovered further in June, and expenses will be adjusted further. Prior risks related to liquidity and potential covenant breaches were substantially reduced following the recent refinancing." The Globe reported on Sept. 20, 2018, that Desjardins Securities analyst Benoit Poirier cut Uni-Select from "top pick" to "buy." His share target dropped to $29 from $32. The shares were then worth $21.13. The Globe reported on Feb. 22, 2019, that Mr. Poirier had cut his rating to "hold" from "buy" and share target to $20 from $29. The shares could then be had for $13.20. The Globe reported on Aug. 8, 2019, that Mr. Poirier kept his "hold" call, but cut his share target to $17. The shares were then worth $10.97.
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