Upgrade Desjardins Securities’ Gary Ho raised his Alaris Equity Partners Income Trust target by $1 to $24 with a “buy” rating.
“Alaris reported a solid quarter which showed the early success of its pivot to common equity investments (10 per cent of total portfolio), demonstrated by robust FV gains. Two near-term catalysts for AD — Kimco redemption/crystallizing of unpaid distributions and the subsequent deployment into a follow-on investment. AD pref collars also offer rate reset benefits in an elevated inflationary environment. We upped our forecasts and bumped our target price,” said Mr. Ho.