Q: Hi 5i
Current thoughts on PRL? Your report was done March 2024 and it has almost doubled. Update soon?
Current thoughts on PRL? Your report was done March 2024 and it has almost doubled. Update soon?
5i Research Answer:
PRL will be having a report issued soon. We continue to like the name, it benefits from secular drivers, sales growth continues to be high (low to mid-double digits), margins are expanding, and forward growth estimates continue to be strong. Forward sales estimates are rising but analyst earnings estimates have been trending lower due to a weakening Canadian economy. It trades at a cheap valuation of 9X forward earnings, and we feel that its strong presence in the US can help to further its growth profile.