From Globe & Mail this AMBefore the conference call
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CIBC World Markets analyst Nik Priebe increased his target for Alaris Equity Partners Income Trust (
) to $22 from $21 with an “outperformer” rating. The average is $22.19.
“Normalized EBITDA came in slightly below our estimate and consensus, but this can be attributed to a timing issue related to an earlier-than-normal management bonus accrual (i.e., Q3 instead of the typical Q4),” said Mr. Priebe. “In general, we feel that the minor earnings variance is relatively inconsequential and we prefer to focus on the stability of partner distributions and corporate development updates to inform our view on the units. On that front, the outlook remains positive with a strong weighted-average ECR and a positive reset expected in 2022, despite a challenging year for the company’s only uncollared investment (i.e., LMS).”
GLTA
SM