GREY:AIIFF - Post by User
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mediascan59on Jul 05, 2011 7:39am
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Post# 18795378
Globe says James's Bastien rates Armtec "outperfor
Globe says James's Bastien rates Armtec "outperforGlobe says James's Bastien rates Armtec "outperform"
2011-07-05 07:05 ET - In the News
The Globe and Mail reports in its Tuesday, July 5, edition that Raymond James analyst Frederic Bastien notes that Brookfield Asset Management has lent a helping hand to Armtec Infrastructure, now trading at a lowly $4.30, by providing it with a $125-million credit facility. The Globe's Darcy Keith and May Jeong write in the Eye On Equities column that Mr. Bastien says Armtec will now be able to repay in full the lenders under its existing senior facility, giving the company "a new lease on life" and freeing up management to tackle operational difficulties. Mr. Bastien targets Armtec stock at $5. As well, the analyst boosted his rating to "outperform." The Globe's Tim Kiladze wrote a mildly bearish piece on Armtec on Nov. 24, 2010. The shares could then be had for $16.39. Canaccord Genuity analyst Yuri Lynk recommended buying Armtec in The Globe on Feb. 2, 2011. It was then trading at $17.85. Mr. Lynk said the infrastructure sector was "exceptionally well positioned" to grow its dividend. Mr. Lynk noted that Armtec was paying a handsome 9 per cent yield. The Globe's Richard Blackwell wrote a slightly bullish piece on Armtec on March 5, 2011, when the shares were trading at $17.46.
Nothing wrong with this company, and the flooding will actually cause more demand from Armtec. I think many will look back and wonder why they didn't just load up on this company when they had the opportunity.
Mediascan