Park Lawn: Funeral services provider taking COVID-19 challenges head on - CIBC

Park Lawn

13/05/2020 12:06

** Brokerage CIBC hikes PT on funeral services provider
 PLC.TO  by C$2 to C$27 as co reports higher qtrly adj. profit
and revenue
    ** Q1 rev jumps 47.5% from a year ago as funeral homes and
cemeteries have been classified essential services during
COVID-19  urn:newsml:reuters.com:*:nCNWcGVc2a
    ** CIBC says results suggest the company is well-positioned
to thrive amidst disruption
    ** Continues to see PLC as a "safer-haven" investment,
maintains positive outlook
    ** "We had a solid first quarter, especially considering the
challenges posed by the market in March due to the onset of
COVID-19" - Brad Green, interim CEO 
    ** Avg. rating on stock is "buy"; median PT is C$26
    ** Stock down ~35% YTD, as of last close 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
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