Dollarama (TSE:DOL) Upgraded to Buy at TD Securities

TD Securities upgraded shares of Dollarama (TSE:DOL) from a hold rating to a buy rating in a report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has C$48.00 price objective on the stock.

Several other equities research analysts also recently commented on DOL. Wells Fargo & Co downgraded shares of Dollarama from an overweight rating to an underweight rating and dropped their price objective for the company from C$53.00 to C$37.00 in a report on Thursday, February 20th. BMO Capital Markets dropped their price objective on shares of Dollarama from C$52.00 to C$50.00 in a report on Thursday, December 5th. Desjardins reaffirmed a hold rating on shares of Dollarama in a report on Thursday, November 28th. Finally, National Bank Financial dropped their price objective on shares of Dollarama from C$51.00 to C$48.00 and set an outperform rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of C$47.30.

TSE DOL traded up C$1.11 during trading on Wednesday, hitting C$42.42. 1,750,725 shares of the company’s stock traded hands, compared to its average volume of 1,066,202. The stock has a market capitalization of $11.82 billion and a price-to-earnings ratio of 24.17. Dollarama has a 12-month low of C$33.00 and a 12-month high of C$52.12. The business has a 50 day moving average of C$40.46 and a 200-day moving average of C$44.89.

Dollarama Company Profile

Dollarama Inc operates a chain of dollar stores in Canada. Its stores offer general merchandise, consumables, and seasonal items. The company also offers products online. As of March 28, 2019, it operated 1,225 stores. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

Analyst Recommendations for Dollarama (TSE:DOL)

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