More Upgrades After a “solid” fourth-quarter of fiscal 2020, Brookfield Business Partners LP is ”well positioned to benefit from a gradual economic recovery,” according to RBC Dominion Securities analyst Geoffrey Kwan, who believe it has sufficient liquidity to “capitalize on new investment opportunities.”
Others making target changes included:
* Desjardins Securities’ Gary Ho to US$47 from US$44 with a “buy” rating.
“BBU posted solid 4Q EBITDA, led by strong results from Westinghouse, Clarios and Multiplex. The potential Westinghouse monetization could be a positive catalyst in our view, with proceeds which could be recycled into other opportunities. While our EBITDA estimates are largely unchanged, the reduction in GrafTech EBITDA (due to decreased ownership) is more than offset by higher contribution from Westinghouse and Clarios,” said Mr. Ho.
* National Bank Financial analyst Jaeme Gloyn to US$50 from US$47 with an “outperform” rating.
* CIBC World Markets’ Nik Priebe to US$50 from US$45 with an “outperformer” rating.