TSX:NBLY - Post Discussion
Post by
incomedreamer11 on Aug 03, 2022 3:18pm
BMO comment
1 hour ago by MT Newswires
01:57 PM EDT, 08/03/2022 (MT Newswires) -- BMO Capital writes that with Neighbourly Pharmacy's Q1 2023 results, a number of disappointing developments surfaced -- a lackluster pharmacy same-store-sales growth of 1.8% vs. Shoppers Drug Mart's pharmacy (ex. front-store) SSS of 6.1%; lower-than-expected projection of 15 acquisitions for the balance of FY2023E; and increased costs for filling pharmacist vacancies to persist for another year.
"Although the stock has fallen to ~14x F2023E EBITDA, and is in line with historical multiples for Shoppers and Jean Coutu, we expect NBLY will remain at these levels in the near term."
BMO has a Market Perform and US$22.50 target on the company.
Price: 20.91, Change: -0.22, Percent Change: -1.04
1 hour ago by MT Newswires
01:57 PM EDT, 08/03/2022 (MT Newswires) -- BMO Capital writes that with Neighbourly Pharmacy's Q1 2023 results, a number of disappointing developments surfaced -- a lackluster pharmacy same-store-sales growth of 1.8% vs. Shoppers Drug Mart's pharmacy (ex. front-store) SSS of 6.1%; lower-than-expected projection of 15 acquisitions for the balance of FY2023E; and increased costs for filling pharmacist vacancies to persist for another year.
"Although the stock has fallen to ~14x F2023E EBITDA, and is in line with historical multiples for Shoppers and Jean Coutu, we expect NBLY will remain at these levels in the near term."
BMO has a Market Perform and US$22.50 target on the company.
Price: 20.91, Change: -0.22, Percent Change: -1.04
Be the first to comment on this post