Raymond James Believes Parkland Fuel (TSX: PKI) Still Has Room to Grow

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Parkland Fuel (PKIResearch Report). Raymond James’ analyst Steve Hansen reiterates their Buy rating on the shares, with a C$51.00 price target.

Hansen has an average return of 0.6% when recommending Parkland Fuel.

According to TipRanks.com, Hansen is ranked #1388 out of 5597 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Parkland Fuel with a C$48.88 average price target, representing a 9.2% upside. In a report issued on October 30, CIBC also maintained a Buy rating on the stock with a $49.50 price target.

Parkland Fuel’s market cap is currently C$6.48B and has a P/E ratio of 19.98. The company has a Price to Book ratio of 3.60.

Parkland Fuel Corp. engages in the market and distribution of petroleum products. It delivers gasoline, diesel fuel, lubricants, heating oil and other products to businesses, consumers and wholesale customers. The company operates through the following business segments: Retail Fuels, Commercial Fuels, Parkland USA, Supply and Wholesale; and Corporate.

The company’s shares closed last Tuesday at C$44.79, close to its 52-week high of C$47.36.