Scotiabank analyst Michael Doumet downgraded Boyd Group Services to Sector Perform from Outperform with a price target of C$230, up from C$225. While the firm expects a continued margin recovery, it believes the shares have already priced-in 100 to 200 basis points of that expansion beyond Q4 and it is less optimistic in the company’s ability to raise margins back to pre-pandemic levels through the firm’s forecast horizon.
Published first on TheFly
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