Post by
tinkvid on Apr 26, 2021 8:22am
Globe says Ho keeping his "buy" on Dominion Lending
2021-04-26 07:59 ET - In the News The Globe and Mail reports in its Saturday edition that Desjardins Securities analyst Gary Ho is keeping his "buy" recommendation for Dominion Lending Centres ($4.15) intact. The Globe's David Leeder writes that Mr. Ho raised his share target by 50 cents to $5.25. Analysts on average target the shares at $4.38. Mr. Ho believes his growth thesis is intact after the company posted in-line fourth quarter results. As well, Mr. Ho sees the hot housing market as a tailwind for the first half of the year. Mr. Ho says in a note, "Our positive thesis is predicated on: (1) robust housing activity bodes well for Dominion Lending in the near term; (2) reflagging efforts to add new brokers could bolster DLC growth in 2021; (3) a potential fintech play with Newton/Velocity, a business which is already EBITDA and FCF positive; and (4) the monetization of non-core assets could reduce leverage." The Globe reported on Oct. 27 that Mr. Ho continued to rate the shares "buy." The shares were then worth $1.90. The Globe reported on Nov. 25 that Mr. Ho still rated the shares "buy," which were then worth $2.60. The Globe reported on Jan. 27 that Mr. Ho had reiterated his "buy" recommendation. The shares could then be had for $3.50. 2021 Canjex Publishing Ltd. All rights reserved. Mobile Old Site