AutoCanada Inc T.ACQ

CIBC

[Possibleidiot01]

AutoCanada (TSE:ACQ) was downgraded by analysts at CIBC from an "outperform" rating to a "neutral" rating. They now have a C$24.00 price target on the stock, down previously from C$35.00. This represents a 4.3% upside from the current price of C$23.02.

The first NCIB did not , repeat did not increase shareholder value with stock now @ $23.05.

The renewal of the NCIB follows on the conclusion of AutoCanada's previous NCIB that expired today. From December 23, 2021 to December 22, 2022, AutoCanada purchased 1,730,321 common shares at a weighted average price of $32.70 per common share

[sunshine7]

Interesting that they did not provide any commentary considering the healthy downgrade. As we know, all growth stocks have taken a hit this year and given the timing, I suspect she is reacting to the CarMax press and recent Carvana troubles. Apples and oranges I say! Today the market agrees with me and as buybacks are initiated, it should lend support. My concerrn is not with acq but with markets

[OptsyEagle]

I suspect they are not looking at what the situation will be in 2027, so you might as well ignore it all. Most of us should know by now that this year is going to suck, from a stock market perspective.  If we get a recession, and we probably will, it will no doubt have a dampening effect on stocks and auto sales.  Let's face it.  The BOC and the US Fed are going to keep raising

[sunshine7]

Your buy and hold advice is sound for the patient investor but for those with short term intentions, acq is also a good trading stock that responds reasonably well to technical trading. I have made good returns even during the market downturn by selling overbought and buying oversold. Back in now after topping up on the last bottom and looking forward to byback support starting next Wednesday when