Multiple Raised Targets National Bank’s Dan Payne raised his Spartan Delta Corp. target to $22 from $20 with an “outperform” rating. Other changes include: Raymond James’ Jeremy McCrea to $17 from $16 with an “outperform” rating and BMO’s Mike Murphy to $19 from $18 with a “market perform” rating. The average is $20.18.
“The value narrative for the company has always been one of cash flow growth, and the special dividend is an outcome of the strength of execution of that strategy, with the company positioned to maintain that momentum while complementing shareholder returns through emerging return of capital (20-per-cent free cash yield),” Mr. Payne said.