The Globe and Mail reports in its Tuesday, Nov. 15, edition that CIBC World Markets analyst John Zamparo is holding on to his "neutral" recommendation for Diversified Royalty. The Globe's David Leeder writes in the Eye On Equities column that Mr. Zamparo boosted his share target to $3.25 from $3.15. Analysts on average target the shares at $3.79. Mr. Zamparo says in note: "Diversified Royalty reported Q3 results above expectations on adjusted revenue, adjusted EBITDA and distributable cash per share. Mr. Lube continues to be the portfolio's star performer and drove most of the Q3 beat, but AIR MILES and Mr. Mikes outperformed as well. Diversified Royalty shares have performed admirably over the past six months (up 19 per cent TSR); valuation at 18 times 2023 estimated EPS looks fair to us, though there is potentially room for upside." The Globe's regular guest columnist Jennifer Dowty was keen on Diversified Royalty on March 23. Ms. Dowty noted that four analyst rated Diversfied Royalty "buy." The share could then be had for $3.30. The Globe reported on Oct. 19 that Canaccord Genuity analyst Matthew Lee had reaffirmed his "buy" recommendation for Diversified Royalty. It was then worth $2.88.
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