Alimentation Couche-Tard Inc (ATD.A) Got Some Good News

By Carrie Williams

Shares of Alimentation Couche-Tard Inc (ATD.AResearch Report) were revisited by a Wall Street analyst today. Keith Howlett, an analyst with Desjardins, has upgraded their rating on ATD.A to Buy , with a C$88 price target.

According to TipRanks.com, Howlett is a 4-star analyst with an average return of 6.2% and a 65.2% success rate. Howlett covers the Services sector, focusing on stocks such as Loblaw Companies Limited, Canadian Tire Corp Ltd, and Dollarama Inc.

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The word on The Street in general, suggests a Hold analyst consensus rating for Alimentation Couche-Tard Inc with a C$87 average price target.

Based on Alimentation Couche-Tard Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of C$390 million. In comparison, last year the company had a net profit of C$594 million.

Alimentation Couche-Tard, Inc. engages in the operation of independent convenience stores. It sells goods for immediate consumption, road transportation fuel, and other products mainly through company-operated stores and franchises stores. It operates under Circle K, Ingo, Couche-Tara brands.

The company’s shares closed last Friday at C$80.06.