The Globe and Mail reports in its Thursday, Nov. 21, edition that Canaccord Genuity analyst Luke Hannan has reaffirmed his "buy" recommendation for Alimentation Couche-Tard. The Globe's David Leeder writes in the Eye On Equities column that Mr. Hannan gave his share target a $3 boost to $83. Analysts on average target the shares at $88.44. Mr. Hannan issued his share target tweak ahead of Couche-Tard's Nov. 25 quarterly release. Mr. Hannan says in a note: "We have rolled forward our valuation methodology to reflect progression throughout the current fiscal year. We believe Couche-Tard's organic growth initiatives should be supportive of consolidated margin expansion over the course of our forecast period, while structural market dynamics suggest fuel margins over the medium-to-long term should remain healthy." The Globe reported on Dec. 7 and Nov. 23 that Mr. Hannan had reiterated his "buy" recommendation. The shares could then be had for $60.89 and $78.96. In the first item Mr. Hannan said Couche-Tard was one of his top three picks.
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