Canaccord Genuity Sticks to Their Buy Rating for Liquor Stores NA

By Carrie Williams

Liquor Stores NA (TSX: LIQ), the Services sector company was revisited today, and remains undervalued for at least one analyst on the street. Canaccord Genuity’s analyst Derek Dley reiterates their Buy rating on the shares, with a C$12.50 price target.

Dley said:

“We are reiterating our BUY rating, and increasing our target price to $12.50 (from $11.00) following the announcement that PointNorth will be successful in its efforts to change the board of directors (and ultimately the growth strategy) at Liquor Stores. Investment highlights Liquor Stores announced Monday morning ahead of its Annual General Meeting scheduled for Tuesday, June 20, that six of its current board members would not be standing for re-election.”

According to TipRanks.com, Dley is ranked #231 out of 4570 analysts.

Liquor Stores NA has an analyst consensus of Moderate Buy, with a price target consensus of C$12.17.

Liquor Stores NA’s market cap is currently C$278.7M and has a P/E ratio of 0.

Liquor Stores NA Ltd. engages in the operation of retail liquor stores. It operates under the brand names Liquor Depot, Liquor Barn, Wine and Beyond, Wine Cellar, Brown Jug, LQR MKT, Liquor Barn, The Ultimate Party Source, and Liquor Barn Express. The company was founded by Henry Andrew Bereznicki and Irving Kipnes in 1993 and is headquartered in Edmonton, Canada.

The company’s shares closed last Monday at $10.20.