Scotiabank Scotia’s George Doumet lowered his target for Park Lawn Corp to $32 from $33 with a “sector outperform” rating. The average is $36.94.
“Results were certainly not as bad as feared, especially in the context of some public competitors reporting significant sequential deterioration in Q3 results. Aided by some bulk sales, PLC was actually able to show a material (180 bps on adj. EBITDA margins) q/q improvement. This quarter’s performance (in addition to some company commentary) points to improved visibility for next year,” said Mr. Doumet.