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NFI Group Inc T.NFI

Alternate Symbol(s):  NFYEF | T.NFI.DB

Industrials
NFI Group Inc. is a Canada-based independent bus and coach manufacturer. The Company specializes in zero-emission electric mass mobility solutions. Its segments include Manufacturing Operations and Aftermarket Operations. Manufacturing Operations segment includes design, manufacture, service and support of new transit buses, motor coaches, medium-duty, cutaway buses, and installation of infrastructure for electric vehicles and fiberglass reinforced polymer components. It offers aftermarket parts for transit buses, coaches and medium duty/cutaway buses, both for the Company's and third-party products. It offers a range of sustainable drive systems, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. The Company's brands include New Flyer (heavy-duty transit buses), MCI (motor coaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motor coaches), and ARBOC (low-floor cutaway and medium-duty buses).


TSX:NFI - Post by User

NFI Group Inc > National Bank increase target price to $12.00
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Comment by pibopibopibopibon Jun 07, 2023 2:35pm
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Post# 35484947

RE:National Bank increase target price to $12.00

RE:National Bank increase target price to $12.00
Valuation
We previously valued the stock by applying a 7.0x EV/EBITDA multiple to our 2024 forecast. However, with
NFI’s credit agreements now renewed and the equity overhang in the rearview mirror, we are comfortable
increasing our valuation multiple to 7.5x, highlighting that 2024 will still be a relatively depressed earnings
year for the company. Our target is therefore $12.00 (versus $13.00 prior to being restricted).

Cameron Doerksen, CFA of NBCFM (National Bank)
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