Analysts say the stock has been undervalued: Couche-Tard runs nearly 8,700 gas stations, and fears surrounding the rise of electric vehicles led to a conservative valuation. But EV’s are not yet dominating the roads, and its strong same-store merchandise sales performance is helping alleviate investors’ concerns.
Analysts say a standout product among those store-goers is tobacco products, particularly e-cigarettes like Juul. CIBC analyst Mark Petrie, who rates the stock as an “outperformer,” points out that tobacco sales are up 6% year-over-year.
“Their acquisition platform is unrivaled,” he says. “They’re able to increase the EBITDA of the companies they acquire by 30% to 50% using sourcing synergies and cost reductions. I have no other companies in my coverage universe that come near that.” In 2001, Couche-Tard acquired U.S. Midwest chain Bigfoot, entering the American market for the first time. Today, Couche-Tard owns nearly 7,800 stores in the U.S. under the Circle K, Corner Store, Kangaroo Express and Holiday brands. Fortin rotated through several executive positions, including CFO and chairman of the board.
CarterCoudriet That guy has done some naughty things with that mouth
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Lyft Stock Jumps 21% In Public Market Debut, But It Still Won’t Make Founders BillionairesUnlike a lot of consumer tech IPOs, Lyft's founders won't become billionaires after ride-hailing company debuts in market. bizcarson Dying Unicorn anyone ? ubercopy is worth a lot on paper. Wait until a copy of ubercopy comes along. bizcarson this pink colour is kinda off putting
Source: Forbes - 🏆 394. / 53 Read more »
Source: CNBC - 🏆 12. / 72 Read more »