Brokerages raise PT for AutoCanda after Autopoint purchase

Autocanada

02/12/2021 13:12

** Brokerages lift PT for AutoCanada  ACQ.TO  after co buys
on Wednesday 11 dealerships in Southwest Ontario market from
Autopoint Group, adding C$345 mln ($269.38 mln) of annualized
revenue 
    ** Cormark Securities raises PT by C$1 to C$63, citing the
expected boost to earnings in 2022 from the purchase 
    ** ATB Capital Markets raises PT to C$85 from $80, saying
the deal supports diversification of co's portfolio mix and
expands its presence in Ontario
    ** Shares up 42.14% YTD


($1 = 1.2807 Canadian dollars)

 (Reporting by Kannaki Deka in Bengaluru)
 ((Kannaki.Deka@thomsonreuters.com))