Alaris Royalty Corp. (AD) Upgraded to “Buy” at Canaccord Genuity
Alaris Royalty Corp. (TSE:AD) was upgraded by stock analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a C$26.50 price target on the stock, down from their previous price target of C$28.00. Canaccord Genuity’s price objective would suggest a potential upside of 22.46% from the stock’s previous close.
Several other brokerages also recently weighed in on AD. Royal Bank Of Canada restated a “sector perform” rating and set a C$31.00 price objective on shares of Alaris Royalty Corp. in a research report on Wednesday, July 20th. AltaCorp Capital cut Alaris Royalty Corp. from an “outperform” rating to a “sector perform” rating in a report on Thursday, July 28th. Scotiabank reaffirmed an “outperform” rating and issued a C$37.00 target price on shares of Alaris Royalty Corp. in a report on Wednesday, July 20th. RBC Capital Markets lowered their target price on Alaris Royalty Corp. from C$31.00 to C$28.00 in a report on Thursday, July 28th. Finally, Raymond James Financial Inc. lowered their target price on Alaris Royalty Corp. from C$31.00 to C$30.00 in a report on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$29.56.
Alaris Royalty Corp. (TSE:AD) opened at 21.64 on Tuesday. The stock’s 50 day moving average price is $22.44 and its 200 day moving average price is $26.95. Alaris Royalty Corp. has a 12-month low of $21.00 and a 12-month high of $31.20. The company has a market cap of $786.31 million and a PE ratio of 14.34.
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Alaris Royalty Corp. Company Profile
Alaris Royalty Corp. is a Canada-based company providing capital to private businesses (individually, a Private Company Partner and collectively the Partners). The Company’s operations consist of investments in private operating entities in the form of preferred limited partnership interests, preferred interest in limited liability corporations in the United States, or long-term license and royalty arrangements.
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