Monday, May 28, 2007

Shoppers has competitive advantage in Ontario: Analyst

From the Financial Post:
Analyst Keith Howlett of Desjardins Securities has reconsidered his position on Shoppers Drug Mart Corp., (SC/TSX) saying the retailer might have a competitive advantage over others despite recent changes to drug policy in Ontario.

The analyst has upgraded his rating on the stock to "hold" from "sell" with an unchanged target of $50.

“Given recent share price weakness, management’s steadfast confidence in the outlook for the business and our possible identification of the company’s competitive advantage in dealing with drug policy changes in Ontario, we are upgrading our rating,” Mr. Howlett wrote in a note to clients. ...more

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