Park Lawn Corp T.PLC

Consumer Cyclical Personal Services

Park Lawn Corporation is engaged in providing goods and services associated with the disposition and memorialization of human remains. The Company and its subsidiaries own and operate businesses, including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. Its primary products and services are cemetery lots, crypts, niches, monuments, caskets, urns and other merchandise, funeral services, after-life celebration services and cremation services. Its products and services are sold on a pre-planned basis or at the time of death. It has one stand-alone funeral home located in Durham, North Carolina; one stand-alone funeral home and one on-site funeral home and cemetery located in Abingdon, Virginia; eight stand-alone funeral homes, two stand-alone cemeteries and one on-site funeral home and cemetery located in and around the Savannah, Tennessee area; three stand-alone funeral homes located in Brampton, Woodbridge and Toronto, Ontario and more.

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Park Lawn Corp

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Post by FrankoLon Mar 31, 2020 6:50pm

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Post# 30866278

National bank lower the PT to 21.5 (from 34.5)

$21.50 target on 10x 2021e EBITDA (was 14x) In light of the uncertainty surrounding COVID-19’s impact on the business and the economy, we ascribe a more conservative 10x 2021e EV/EBITDA multiple to PLC and lower our target to $21.50 (was $34.50). However, as PLC now trades at 8.1x, at thelower end of the peer group range despite having a stronger balance sheet (see Figure 5), we believe downside risk has been overstated and see upside from current levels: Outperform.

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