Aging baby boomers, higher death rates lift Park Lawn stock

Park Lawn

28/03/2019 18:30

** Funeral services provider's shares  PLC.TO  up 6.2 pct at
C$26.74
    ** At least 3 brokerages raise PTs on Q4 2018 results; CIBC
to C$30 from C$26, Canaccord Genuity to C$30 from C$29.50 and
Cormark Securities to C$32.50 from C$26.75
    ** Park Lawn's adjusted earnings jumped 85 pct to C$15.9
million for full-year 2018 ($11.84 million)  urn:newsml:reuters.com:*:nCNWs5Htza
    ** Bigger rival Service Corporation International's  SCI.N 
earnings fell ~18 pct in the same period 
     ** An aging population in North America, increasing death
rates set to help Park Lawn funeral services - Paradigm Capital
    ** Apart from that, Park Lawn's purchase of New Jersey
cemetery also seen as growth driver
    ** All 9 brokerages covering the stock rate it "buy" or
higher; median PT C$30
    ** Including session's gains, stock up ~16 pct YTD


($1 = 1.3431 Canadian dollars)

 (Reporting by Shanti S Nair in Bengaluru)
 ((Reuters Messaging:
shantis.nair.thomsonreuters.com@reuters.net))