GREY:ALARF - Post by User
Post by
Safetraderon Mar 06, 2020 6:17am
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Post# 30773870
CIBC look forward on AD $21.50 target
CIBC look forward on AD $21.50 targetAlaris reported Q4/19 that was a minor miss on our estimates and consensus. Given recent events, however, we see more value in looking forward than we do in analyzing results for a quarter that closed over two months ago. Our focus is on what we expect to be growth challenges to the portfolio due to the ongoing deteriorating macro picture. We recently lowered revenue, CFPS and dividend estimates (this followed, but was largely unrelated to, the $40million write-off on the mandatory Sandbox redemption). We maintain our price target at $21.50 and our Neutral rating.