stockwatch.com Globe says Doerksen maintains NFI Group at "outperform"
2024-05-07 09:02 ET - In the News
The Globe and Mail reports in its Tuesday edition that National Bank Financial analyst Cameron Doerksen has reaffirmed his "outperform" recommendation for NFI Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen boosted his share target by a loonie to $19. Analysts on average target the shares at $15.80. Mr. Doerksen says in a note: "Demand for buses is exceptionally strong and NFI Group has strong visibility on bus deliveries, higher pricing and EBITDA growth through 2025 and beyond that we expect will drive a higher share price over time. In addition, NFI will benefit from competitive changes in the North American market that have resulted in the U.S. market for heavy-duty transit buses effectively becoming a duopoly (NFI and privately held Gillig). Finally, contracting changes recommended by a government-industry task force that are now being implemented in the U.S., including retroactive pricing adjustments and the institution of progress payments, will likely have positive implications for NFI's cash collection and working capital management in future years." The Globe reported on Oct. 18 and Jan. 18 that Mr. Doerksen rated NFI "outperform." It was then worth $14.15 and $13.67.