Dorel Industries Inc. (DII/B:CN) (DIIBF) PT Lowered to Cdn$16 at BMO Capital
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BMO Capital analyst Stephen MacLeod lowered the price target on Dorel Industries Inc. (DII/B:CN) (OTC: DIIBF) to Cdn$16.00 (from Cdn$24.00) while maintaining a Market Perform rating.
- Q4/18 operating results that were well below expectations
- Adjusted EBIT was down y/y across all segments and below forecast
- announced a 50% dividend cut, a restructuring program, and is reviewing its convert refinancing
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