Analyst Day comments - CIBC; Scotia AutoCanada Executive Chairman Antony Ushering In 'New Era' -- Market Talk 03/29/2022 03:40 PM ET
1540 ET - Canadian automobile dealership group AutoCanada's executive chairman Paul Antony has built a solid foundation for the company, CIBC says following the company's analyst day. Since his appointment in 2018, "Antony has sought to get ACQ back on track. With his data-driven approach to management and decision making, he is ushering ACQ into a new era of profitability," the investment bank adds, also saying that it believes there is more to come from the company. In addition, CIBC expects M&A to accelerate as AutoCanada looks to fill out its portfolio by targeting Saskatchewan and Manitoba, as it continues to add in Ontario. Shares are up nearly 10%.
(adriano.marchese@wsj.com)
(END) Dow Jones Newswires
March 29, 2022 15:40 ET (19:40 GMT)
© 2022 Dow Jones & Company, Inc.
Also, Scotia price target confirmed $48
AutoCanada Executive Chairman Antony Ushering In 'New Era' -- Market Talk 03/29/2022 03:40 PM ET
1540 ET - Canadian automobile dealership group AutoCanada's executive chairman Paul Antony has built a solid foundation for the company, CIBC says following the company's analyst day. Since his appointment in 2018, "Antony has sought to get ACQ back on track. With his data-driven approach to management and decision making, he is ushering ACQ into a new era of profitability," the investment bank adds, also saying that it believes there is more to come from the company. In addition, CIBC expects M&A to accelerate as AutoCanada looks to fill out its portfolio by targeting Saskatchewan and Manitoba, as it continues to add in Ontario. Shares are up nearly 10%.
(adriano.marchese@wsj.com)
(END) Dow Jones Newswires
March 29, 2022 15:40 ET (19:40 GMT)
© 2022 Dow Jones & Company, Inc.