Tricon Residential downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst Stephen MacLeod downgraded Tricon Residential to Market Perform from Outperform with a price target of C$15.15, up from C$12.50. Blackstone’s proposed acquisition of Tricon at $11.25 presents an attractive outcome for shareholders, the analyst tells investors in a research note. While competing bids could emerge, BMO expects them to be unlikely, the analyst adds.