TSX:EFN - Post Discussion
Post by
retiredcf on Nov 14, 2024 7:35am
Multiple Raised Targets
National Bank’s Jaeme Gloyn bumped his Element Fleet Management Corp. target to $39 from $37 with an “outperform” rating. Other changes include: TD Cowen’s Graham Ryding to $33 from $32 with a “buy” recommendation and Scotia’s Phil Hardie to $32 from $33 with a “sector outperform” rating. The average is $32.09. “This is exactly what we were looking for,” Mr. Gloyn said. “Q3-24 EPS beat the street and the 2025 guidance reaffirmed our favourable outlook. We reiterate our view that EFN is a ‘core holding’. We see continued upside for the shares through 2025 with catalysts from the details of a three-year plan expected in 2025. Our Price Target goes to $39 (was $37), slightly stronger FCF/share and the stronger USD.”
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