GREY:MSIXF - Post by User
Post by
Digby8on Feb 18, 2021 12:14pm
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Post# 32596356
BMO comment
BMO commentInitiating at Outperform; Seizing Free Cash Flow Morneau Shepell offers a long-term mid-single-digit organic growth profile, downside protection in the form of highly recurring revenue streams and upside potential from opportunistic acquisitions.
• We anticipate the upcoming year to be rich in financial performance improvements, with rising free
cash flow generation and declining leverage.
• We believe the shares currently provide a compelling entry point with improving free cash flow conversion presenting a valuation re-rating opportunity. We initiate coverage at Outperform with a $37 target price.