Review of Toromont Industries

FEB 09, 2023 - TIH is an industry leader in specialized equipment rental in Canada. In this year's challenging macro environment, the business so far has proven to be resilient. Although, the share price at the time of this report already reflects some recessionary discount. We believe the long-term thesis of investing in TIH as a long-term compounder, with growing dividends, and a disciplined capital allocation strategy should reward long-term shareholders well. Rating initiated at “B+”.