Review of Park Lawn Corporation

OCT 24, 2023 - Fundamentally, the company is strong, and management has set a strong Adjusted EBITDA target of $150 million for 2026. While it may continue to see some near-term headwinds due to a declining mortality rate, we feel that management is capable of navigating this turbulence and can continue to expand its margins and even seek out smaller acquisitions. We feel that the valuation is reasonable, and offers downside protection for investors. Rating maintained at ‘B+’.