Bullboard - Stock Discussion Forum Parkland Corp T.PKI

Alternate Symbol(s): PKIUF

Parkland Corporation is an international fuel distributor, marketer and convenience retailer with operations in 26 countries across the Americas. The Company’s segments include Canada, International, USA and Refining. Its retail network meets the fuel and convenience needs of everyday consumers. It also provides a range of choices to help them lower their environmental impact. These include... see more

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TSX:PKI - Post Discussion

Parkland Corp > Another downgrade

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Post by incomedreamer11 on Oct 23, 2024 9:30am

Another downgrade

Desjardins Securities’ Chris Li cut his Parkland Corp. (PKI-T) target to $44 from $46 with a “buy” rating. The average is $50.54.

“Ahead of 3Q results on October 30, we have lowered our estimates to reflect weak refining margins and ongoing macro pressures weighing on demand. We believe PKI’s near-trough valuation (6.3 times NTM [next 12-month] EBITDA) largely reflects these challenges. While we expect the stock to remain range-bound in the near term, we believe there are several catalysts including macro improvement driving meaningful EBITDA growth next year, resolution of the Simpson dispute and leverage reduction (accelerated share buyback or M&A),” said Mr. Li.

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