Cormark raises Superior Plus' PT on $770 mln deal for Certarus

Superior Plus

28/12/2022 15:22

** Cormark Securities raises PT on Superior Plus Corp
 SPB.TO  to C$15 from C$14 following the co's $770 mln deal to
acquire mobile low-carbon fuels provider Certarus Ltd
    ** Stock trading at C$11.16, up 1%
    ** Says the acquisition helps to "future-proof" SPB's fuel
distribution business, adding that a strong organic growth
engine with a very large addressable market ($6 bln - $8 bln) in
front of it
    ** Certarus is expected to maintain substantial growth as
the demand for its products continues to increase - brokerage
    ** 6 of 11 brokerages rate the stock "buy" or higher and 5
"hold"; their median PT is $12.91
    ** Up to Tuesday's close, stock has fallen 15% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))