TSX:NBLY - Post Discussion
Post by
retiredcf on Jun 20, 2022 12:59pm
BNS
11:09 AM EDT, 06/20/2022 (MT Newswires) -- Scotiabank on Monday reiterated its sector-outperform rating on the shares of Neighbourly Pharmacy (NBLY.TO) with a C$41.00 price target as it previewed the company's fiscal fourth-quarter earnings.
"NBLY will release Q4F22 results on June 23 ... We anticipate strong y/y growth in Q4 for NBLY with revenue rising 19.9% to $99.9M, driven primarily by acquisitions," analyst Patricia Baker said in a note. "We do anticipate some impact of the Omicron variant on NBLY's Q4 performance. We forecast EBITDA of $10.6M, up from $9M in the prior year. Gross profit is estimated at $36.9M, up 18.2% from Q4F21, with a gross margin of 36.9%. NBLY's recent acquisition of Rubicon, set to close in June, further solidifies its leading position as a national consolidator of independent pharmacies in Canada. NBLY is well positioned to drive outsized revenue and EBITDA growth as it continues to execute on its M&A strategy. In the context of recent market volatility we see NBLY as offering a solid defensive play."
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