,,,,,,,,,,,,National Bank........LIFTS Target to $37........ National Bank Says Parkland's Q4 Results In-Line With Expectations; Price Target Lifted
03/06/2023 (MT Newswires) -- National Bank said Sunday that Parkland Corp.'s (PKI.TO) fourth-quarter results are in-line with its expectations.
The results were supported by stronger-than-expected performance in Canada, partially offset by weaker results in Refining, International, and US.
National Bank has an outperform rating on the company. The price target was raised to $37 from $36.
"We remain constructive on PKI given attractive valuation and ongoing growth supported by fuel margins, refinery margins and acquisition contribution," the analysts said.
"That said, we believe PKI must demonstrate sustained operational execution before the market more fully rewards the valuation multiple. (3) PKI currently trades at 6.4x our NTM EBITDA vs. the five-year average of 8.3x."