Professional
Added to YB: 2024-04-22
Pitch date: 2024-04-08
ATD.TO [bullish]
Alimentation Couche-Tard Inc.
-3.32%
current return
Author Info
No bio for this author
Company Info
Alimentation Couche-Tard Inc. operates and licenses convenience stores in North America, Europe, and Asia.
Market Cap
CAD 48.1B
Pitch Price
CAD 74.72
Price Target
94.00 (+30%)
Dividend
1.11%
EV/EBITDA
10.24
P/E
18.72
EV/Sales
0.82
Sector
Consumer Staples Distribution and Retail
Category
growth
RBC Capital Markets Investment Thesis: Alimentation Couche-Tard Inc.
ATD.TO: Defensive c-store leader set to outperform despite macro headwinds. $10B F28 EBITDA target (incl. M&A) above consensus. Strategies to boost sales & optimize costs. Low-40s CPG fuel margin sustainable. Strong FCF (>$2.5B/yr) for buybacks, M&A, divs. $94 PT on 19.5x F26E P/E, 11.5x EBITDA. Risks: Lower fuel margins, store traffic, FX.
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