Clarus Initiates Coverage People Corp. (PEO-T) is a "predictable, low-risk growth business," said Clarus Securities analyst Noel Atkinson, initiating coverage of the stock with a "buy" rating.
"PeopleCorp is one of the largest providers of employee group benefit consulting and third-party benefits administration (TPA) services in Canada," he said. "The Company has enjoyed average organic growth of 12 per cent year over year over the past 8 quarters. This is complemented by an opportunistic acquisition strategy, which we expect to continue through our forecast period."
Mr. Atkinson set a target of $8.5, which is 19 cents below the consensus.