Dorel Industries Inc. (DII/B:CN) (DIIBF) PT Lowered to Cdn$16 at BMO Capital

March 15, 2019 7:49 AM EDT
Get Alerts DIIBF Hot Sheet
Price: $9.02 -2.28%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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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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