Bullboard - Stock Discussion Forum Element Fleet Management Corp T.EFN

Alternate Symbol(s): ELEEF | T.EFN.DB.B | T.EFN.P.C | T.EFN.P.E

Industrials

Element Fleet Management Corp. is a Canada-based global automotive fleet manager. The Company provides business-to-business services and financing to corporations, governments and not-for-profits. It operates in various countries, including the United States, Canada, Mexico, Australia and New Zealand. It provides services and financing for commercial vehicle and equipment fleets, reaching... see more

Add To Watchlist

TSX:EFN - Post Discussion

Element Fleet Management Corp > National Bank

View:

Post by retiredcf on May 02, 2023 7:41am

National Bank

National Bank's Jaeme Gloyn said Element Fleet Management Corp. remains his “top pick” with an “outperform” rating and $28 target (both unchanged). The average on the Street is $23.65.

“We like the setup into Q1-23 for several reasons,” he said. “We believe management sufficiently addressed any perceived funding concerns last week, but Q1-23 results and outlook commentary will cement this view; we expect new CEO Laura Dottori-Attanasio will take a more prominent role and reenergize confidence in the near- to long-term outlook; we expect management will upgrade 2023 guidance; and lastly, we see upside to our in-line with consensus forecasts primarily given an unexpectedly strong used vehicle price market but also because of ongoing organic growth momentum. We view the current 9-10-per-cent FCF yield as extremely attractive for investors looking to add or establish a position.”