Alaris Royalty Corp ALARF

elevates Alaris to "outperformer"

[kijiji]

Globe and Mail reports in its Saturday, July 13, edition that CIBC raised its target and upgraded Alaris Royalty after the company announced a follow-on investment in Planet Fitness Growth Partners (PFGP), a leading health club franchise network. The Globe's Gillian Livingston writes in the Eye On Equities column that analyst Scott Fromson raised his share target to $25 from $22 and boosted his rating on the stock to "outperformer" from "neutral." Mr. Fromson says in a note: "We see this as positive for the stock, a 'redemptive' development following PFGP's partial redemption last year, and supportive of the viability of Alaris's business model. One of the big concerns that investors -- and we -- have had is that good investment partners will redeem their prefs, while companies stay in the portfolio. The PFGP development runs counter to that thesis. We also got a better sense today of how Alaris is structuring investments to better insulate from downside risk on the road to its 80 per cent target payout ratio.