CIBC Issues Pessimistic Forecast for Alimentation Couche-Tard (TSE:ATD) Stock Price

Alimentation Couche-Tard (TSE:ATD) had its price target reduced by equities research analysts at CIBC from C$87.00 to C$85.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 19.60% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Alimentation Couche-Tard from C$89.00 to C$86.00 and set an “overweight” rating on the stock in a report on Tuesday. Canaccord Genuity Group decreased their price target on shares of Alimentation Couche-Tard from C$85.00 to C$84.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Scotiabank decreased their price target on shares of Alimentation Couche-Tard from C$91.00 to C$85.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. BMO Capital Markets decreased their price target on shares of Alimentation Couche-Tard from C$87.00 to C$85.00 in a report on Monday, February 10th. Finally, National Bank Financial upgraded shares of Alimentation Couche-Tard from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alimentation Couche-Tard has an average rating of “Buy” and a consensus price target of C$86.31.

Alimentation Couche-Tard Price Performance

Shares of Alimentation Couche-Tard stock traded up C$0.33 during trading on Thursday, hitting C$71.07. The stock had a trading volume of 828,429 shares, compared to its average volume of 1,298,772. The firm has a market cap of C$47.22 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.35 and a beta of 0.89. Alimentation Couche-Tard has a 12 month low of C$65.95 and a 12 month high of C$85.53. The business’s 50-day moving average is C$73.23 and its 200 day moving average is C$75.68. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 101.54.

About Alimentation Couche-Tard

Alimentation Couche-Tard Inc operates and licenses convenience stores in North America, Europe, and Asia. Its convenience stores sell tobacco products and alternative tobacco products, grocery items, candies and snacks, beer, wine, beverages, and fresh food offerings; road transportation fuels and electric vehicle charging solutions; and aviation fuels, as well as energy for stationary engines.