TSX:DND - Post Discussion
Post by
alhiemstra on Nov 11, 2022 12:17pm
3 Outperform ratings
* CIBC’s Scott Fletcher cut his Dye & Durham Ltd. target to $27.50 from $33 with an “outperformer” rating.
Raymond James’ Stephen Boland to $21 from $31 with an “outperform” rating
BMO’s Thanos Moschopoulos to $20 from $23 with an “outperform” rating.
The average is $27.90.
“We remain Outperform on DND and have reduced our estimates and target price following Q1/23 results, which were below consensus, as the business is being impacted by the cyclical decline in property transaction volumes. That said, we think DND can sustain a healthy level of cash flow and profitability through the current downturn (at least in absolute terms, albeit not relative to prior Street estimates), as was evidenced this quarter, and we believe the risk/reward on the stock remains attractive,” said Mr. Moschopoulos.
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