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Following Dye & Durham Ltd.’s announcement CEO Matthew Proud is stepping down, Scotia’s Kevin Krishnaratne raised his target for its shares to $25 from $20 with a “sector outperform” rating. The average is $23.05.
“We view the opportunity for new leadership as positive. Furthermore, we continue to mainly focus on the underlying value of DND, which we believe to be a strong asset leveraged to the rebounding real estate market with an increasing focus on organic growth acceleration and strong Adj. EBITDA margins,” he said.
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