Analyst Tristan M. Thomas-Martin of BMO Capital maintained a Buy rating on Boyd Group Services (BYDGF – Research Report), with a price target of $280.00.
Tristan M. Thomas-Martin has given his Buy rating due to a combination of factors including Boyd Group Services’ performance and future growth prospects. Despite a cautious outlook on near-term claims volume due to macroeconomic challenges, the company’s long-term growth strategy remains robust. The recent 4Q24 results exceeded expectations, and the company has set ambitious targets for 2029, aiming for significant revenue and market share growth.
Furthermore, Boyd Group Services is actively expanding its operations with new start-up locations planned for 2025, which is expected to enhance its market position. The analyst also notes that while current sales and earnings may face short-term pressures, the industry fundamentals are anticipated to recover, providing medium-term value for investors. This combination of strategic growth initiatives and potential market recovery underpins the Buy rating.
In another report released on March 18, Raymond James also reiterated a Buy rating on the stock with a C$285.00 price target.
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