Canada's North West Co up after BMO Capital Markets upgrades stock to 'outperform'

North West

19/12/2024 18:06

** Shares of Canadian retailer and grocer North West
 NWC.TO  rise as much as 3% to C$50.47
    ** Brokerage BMO Capital Markets upgrades stock to
"outperform" from "market perform", raises PT by C$2 to C$58
    ** Believes co is poised to and has already started to
re-rate higher in the face of a step-up in its Canadian growth
rate
    ** Says multi-billion settlements including the First
Nations Drinking Water Settlement and compensation from First
Nations Child and Family Services to boost consumer demand among
Northern Canadian communities, driving demand for co
    ** Expects these settlement programs as growth tailwinds for
co despite the path being unlikely to be linear as payments have
been slower than expected
    ** Including session moves, stock has risen ~25% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))