Over $1.4 Billion Paid in Dividends to Date

Repurchased 18.5 million Common Shares for $197.3 million since 2020

Revenue CAGR of 11.9 percent since 1993 to $2 Billion in 2022

Consistently generate free cash

Bullboard - Investor Discussion Forum Mullen Group Ltd. T.MTL

Alternate Symbol(s): MLLGF | T.MTL.DB

Industrials Integrated Shipping & Logistics

Mullen Group is one of North America's largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation. Mullen also provides a diverse set of specialized services related to the energy, mining... see more

TSX:MTL - Post Discussion

Mullen Group Ltd. > MTL Market-Perform Rating Reiterated at BMO; Target C$15.50

View:

Post by davgro on Jun 08, 2023 10:51am

MTL Market-Perform Rating Reiterated at BMO; Target C$15.50

2023-06-07 11:29:03 AM ET (MT Newswires)

11:29 AM EDT, 06/07/2023 (MT Newswires) -- BMO Capital Markets on Wednesday reiterated its market-perform rating on the shares of Mullen Group (MTL.TO) and its C$15.50 price target after hosting meetings with the management of the trucking and logistics company with investors.

"We recently hosted Murray Mullen, Mullen Group's Chair, Senior Executive Officer and President for Institutional Investor meetings in Montreal. In our view, Mullen's asset base is valuable and difficult to replicate given its geographic and business unit diversification. We also expect its counter-cyclical M&A approach should once again prove positive as market conditions improve. Our Market Perform rating reflects freight headwinds, although Mullen continues to represent a solid investment opportunity over the long term given its strong balance sheet and dividend yield. We reiterate our $15.50 target price," analyst John Gibson wrote.

242