Wednesday, 21 April 2010

Carfinco Analyst Increases Target Of Unit Price

Carfinco Income Fund (TSX: CFN.UN)
Units issued: 23.9 million
Units fully diluted: 24 million
Current monthly distribution: $0.02
Q1/2010 special distribution: $0.04


Industrial Alliance initiated coverage on Carfinco back in February of this year initially giving it a Strong Buy rating and $3.50 targeted unit price.

Please click on the chart to enlarge

Since then Carfinco has far exceeded initial expectations with solid performance and growth while the market has shown its appreciation taking the unit price to over $4.00.

April 15th's latest report from analyst Fred Westra labeled Carfinco with a new targeted unit price of $4.50. Carfinco attended extensive institutional meetings over three days in Toronto and Montreal with Industrial Alliance in early April giving Fred further time to delve into Carfinco's business. He since increased his estimated earnings per share (EPS) for 2010 to $0.46 from $0.40 as well.

Read full report by clicking here........