National Bank 11:00 AM EDT, 04/10/2023 (MT Newswires) -- National Bank on Thursday outlined highlights from Tricon Residential Inc.'s (TCN.TO) investor day event, including an update on acquisition volume sensitivity and refinancing outlook.
"The acquisition outlook has been a key source of debate in the stock over the last 12 months. Broadly speaking, TCN has seen some pricing deterioration in its markets and has tried to take advantage of where it sees discounted prices," the analysts said.
The bank also noted that the company continues to invest in technology to gain better cost certainty and support net operating income margins.
National Bank has an outperform rating with a $13 price target.
The company's stock was down 1.6% on last look on Monday.
Price: 10.65, Change: -0.17, Percent Change: -1.62