Exchange Income Corp T.EIF

TD

[retiredcf]

TD Securities’ Tim James cut his Exchange Income Corp.  target by $1 to $65 with a “buy” rating. The average is $66.50.

[retiredcf]

“The reduction is due to higher valuation-period net debt and shares outstanding, partially offset by higher valuation-period forecast EBITDA,” he said. “The increase to net debt and shares outstanding reflects the financing of the DryAir Manufacturing acquisition. The bias lower to our 2023 EBITDA and EPS forecasts primarily reflects updated currency, fuel, economic, and other minor assumptions

[Eastbank]

The change in target price is only a buck to $65 and far in excess of where the stock is trading currently...so lots of runway ahead when the company next reports! GLTA