The Globe and Mail reports in its Wednesday, April 17, edition that Stifel analyst Justin Keywood has reaffirmed his "buy" recommendation for ATS. The Globe's David Leeder writes in the Eye On Equities column that Mr. Keywood gave his share target a $5 trim to $68. Analysts on average target the shares at $65.43.
Mr. Keywood says in a note: "ATS has lost 1/4 of market cap in three months (vs. S&P/TSX up 4 per cent), following mixed FQ3 results on EV, a negative broker initiation report and secondary sale from the largest shareholder at $46.55. ATS now trades at 11 times NTM [next 12-month] EBITDA vs. a three-year low at 10 times, comps at 15 times and a buyback has been activated at $46, 10-per-cent higher." The Globe reported on Jan. 12, 2023, that Mr. Keywood called ATS one of his "top picks." He continued to rate the shares "buy." The shares could then be had for $45.59. The Globe reported on Feb. 9, 2024, that Scotia Capital analyst Michael Doumet had cut ATS to "sector perform" from "sector outperform." He recommended looking "for a more attractive entry point." The shares could then be had for $55.19.
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