New Rating!!!!! GLTALongs 09:48 AM EDT, 10/25/2022 (MT Newswires) -- Desjardins lowered its price target on Parkland Corp. (PKI.TO) to $36 from $44 on Tuesday.
Analyst Chris Li maintained a Buy rating on the Calgary-based energy and retail company following its Q3 EBITDA update last week that reflected commodity volatility.
"While we believe PKI's valuation is inexpensive, with the stock trading at near-trough 6.5x forward EBITDA with little value attributed to its retail business, catalysts and patience are needed," Li said in a note to clients.
"Continued deleveraging (to <3.0x in early 2023), improved macro visibility and a clear path to EBITDA of $2 Billion by approximately 2025 should improve sentiment and valuation," the analyst said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 27.36, Change: -0.20, Percent Change: -0.73