Q: In light of the recent acquisition from Spartan Delta how would you now rate CPG. Is it a buy at these levels?
5i Research Answer:
It is not our favourite, but is certainly cheap and offers a good dividend and growth potential. The balance sheet is in much strong shape than prior cycles, and it is one of the few in the sector expected to grow this year (with acquisitions offsetting lower pricing). Special dividends (small) will likely continue. We think it would be fine to own.