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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (23097)	10/19/2016 9:31:10 AM
From: Goose94	Read Replies (1) of 202783

New Flyer Industries (NFI-T) CIBC's Chiang hikes target to $51 CIBC World Markets analyst Kevin Chiang says the market's reaction to New Flyer Industries' third quarter results "looks overdone." Reported a reduction in its 2016 revenue guidance for its aftermarkets segment and "noisy" quarterly results. Mr. Chiang raised his share target to $51 from $50 with a "sector outperformer" rating. Analysts on average target the shares at $51.99. Mr. Chiang calls the guidance change "a negative surprise." Mr. Chiang says in a note: "Over the past 10 years, New Flyer has traded between 4 times and 8 times current enterprise value to forward EBITDA, averaging 6.7 times during this period. Currently, New Flyer's 2017 EV/EBITDA multiple is 7.8 times. We do not view this as a significant premium to where it has averaged over the past decade, especially given its stronger FCF/earnings profile and improved competitive environment." The Globe's Jennifer Dowty recommended the stock in January when it was worth about $28 and again on July 6 when it was worth $39.71.

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