National Bank Prior to its third-quarter earnings release, National Bank’s Endri Leno reduced his Dentalcorp Holdings Ltd. target to $15.50 from $18 with an “outperform” rating to account for higher interest rate environment and lower peer valuations. The average is $16.55.
“We have a positive view on DNTL given 1) attractive and stable industry fundamentals; 2) opportunity to participate in the consolidation of the Canadian dental market; 3) long-term visibility for acquisitions; 4) relative quality of assets; and 5) continued organic growth,” said Mr. Leno. “These attributes do override at-the-moment potential concerns including leverage, a tight dental labour market, and federal deliberations on dental care.”