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"Alaris Royalty Corp is engaged in investing in operating entities. Its operations consist primarily of investments in private operating entities, typically in the form of preferred limited partnership interests, preferred interest in limited liability corporations in the United States, loans receivable, or long-term license and royalty arrangements."

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Alaris Royalty Corp > CIBC look forward on AD $21.50 target

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Post by Safetrader on Mar 06, 2020 6:17am

CIBC look forward on AD $21.50 target

Alaris 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.

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