Scotiabank Reaffirms Their Buy Rating on Alimentation Cl A MV

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Services sector company, Alimentation Cl A MV (TSX: ATD.A). Scotiabank’s analyst Patricia Baker reiterates their Buy rating on the shares, with a C$73 price target.

According to TipRanks.com, Baker is a 4-star analyst with an average return of 8.0% and a 55.4% success rate. Baker covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Alimentation Couche Tard, and Loblaw Companies Limited.

Alimentation Cl A MV has an analyst consensus of Strong Buy, with a price target consensus of C$74.38.

Based on Alimentation Cl A MV’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of C$13.01 billion and quarterly net profit of C$482 million. In comparison, last year the company earned revenue of C$11.02 billion and had a net profit of C$423 million.

Alimentation Couche-Tard, Inc. operates independent convenience stores in Canada. It engages in the sale of goods for immediate consumption, road transportation fuel, and other products mainly through corporate stores and franchise operations under different brand names namely, Circle K, Couche-Tard, Mac’s Kangaroo Express, Statoil, Ingo, Topaz, and Re.Store.

The company’s shares closed on Monday at C$64.73.