analysts Desjardins Securities’ Gary Ho reduced his CareRx Corp. (CRRX-T) target by $1 to $6 with a “buy” rating, while Canaccord Genuity’s Tania Armstrong-Whitworth cut her target to $6.50 from $8 with a “buy” rating. The average is $7.14.
“CRRX reported mixed 2Q results,” said Mr. Ho. “EBITDA was in line with our estimate but missed consensus; estimates are likely to be reset to account for the Extendicare loss and labour challenges. However, we remain constructive on CRRX’s organic pipeline, history of successful cost containment and M&A execution, which should offset these headwinds and drive margin expansion over the medium term.”
CareRx (OTCMKTS:CHHHF – Get Rating) had its price objective cut by Stifel Nicolaus from C$7.50 to C$6.50 in a report released on Tuesday morning, The Fly reports.