Consumer Goods & Services

  • 10:20 AM

    Recently the management team of Ag Growth International Inc. (TSE:AFN) visited Toronto to meet with institutional investors. We summarize the key discussion points. Westeel acquisition integration is progressing well. Company remains confident that it will realize its forecasted $5 million of near-term EBITDA synergies (roughly split 50/50 between revenue and cost synergies). In June 2015,

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  • 6:04 PM

    After market closed, MTY Food Group (TSE:MTY) posted second quarter Revenues of $38.4 million, EBITDA of $13.4 million and EPS of $0.44 versus our estimates of $35.5 million, $10.9 million and $0.33 versus consensus of $34.3 million, $12.0 million and $0.37 respectively. The solid earnings were largely the result of higher than anticipated ($1.5 million)

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  • 6:02 PM

    For Horizon North Logistics (TSE:HNL), we are off restriction following the completion of its $80.6 million bought deal, which includes 15% overallotment option at $3.75 per share. We are reiterating our 12 months price target of $4.00 and maintain “Sector Outperform” rating as of now. We see company financing in expectation of LNG opportunities. Following

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  • 6:06 PM

    Before market opened on Wednesday, WestJet Airlines Ltd (TSE:WJA) posted June traffic results and updated its second quarter guidance. June LF of 76.9% (down 50 basis points year-over-year) was a touch better than our expectations but was partially the by-product of a more price-driven traffic growth strategy (RPMs up 7%). ASMs were up 7.6% mainly

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  • 5:32 PM

    On Thursday, before market opened, DragonWave (NASDAQ:DRWI) released first quarter results last night. Results remained in-line with updated outlook. Revenue of $26.3 million was in line with updated outlook of $27 million. EPS -$0.08 was in-line with our expectation for -$0.09. Two customers each represented more than 10% of revenue. Nokia comprised 52% of revenue,

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  • 5:19 PM

    On Tuesday, before the market opened, Vicwest Inc. (TSE:VIC) delivered fourth quarter of 2014 Adjusted EBITDA of $12.3 million in-line with our forecast of $12.9 million and ahead of consensus estimates of $10.1 million. Management noticed that the sale of Vicwest to Kingspan and Ag Growth for $12.70 per share is proceeding well. Shareholders have

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  • 5:29 PM

    After markets closed on Wednesday, we have started coverage on the common shares of Concordia Healthcare Corp. (TSE:CXR) with a “Sector Outperform” rating and a 12 months target price of $90.00 per share. Concordia’s preliminary strategic focus is to acquire products that generate durable cash flow, have some possible for growth, and have firmly established

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  • 4:53 PM

    We are raising Sabesp (BVMF: SBSP3) to “Sector Outperform” rating and raising our price target to R$22 (increased by 5%); while risk assessment remains “Medium”. First quarter reservoir inflows were good, in spite of readings in the Cantareira system that were yet lower than long-term averages. Overall, the main São Paulo (SP) reservoirs now demonstrate

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