TSX:SIS - Post Discussion
Post by
retiredcf on Mar 17, 2023 11:38am
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Desjardins Securities analyst Frederic Tremblay believes shares of Savaria Corp. are trading too cheaply. The manufacturer of products for personal mobility reported fourth quarter results this week.
“4Q22 results and 2023 guidance were consistent with last month’s announcements and, in our view, are positive signals on Accessibility’s resiliency and Patient Care’s inflection point. We view the large valuation discount (vs historical average) as unwarranted based on Savaria’s resiliency, profitable growth outlook and declining leverage,” the analyst said.
SIS trades at 9.5x Desjardins’ 2024 adjusted EBITDA estimate. That’s a large discount to the five-year average of 11.3x.
Mr. Tremblay raised his price target to C$22. Elsewhere, Stifel GMP raised its target price to C$26 from C$25 and National Bank of Canada cut its target price to C$18.50 from C$19.00.
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