RBC Capital Markets raised its price target on Alimentation Couche-Tard Inc. (ATD.TO) to $106 from $104.
Analyst Irene Nattel maintained an Outperform rating on shares of the Canadian multinational convenience store operator following its quarterly results.
The company ended fiscal 2026 with "strong and better than expected KPI's/ financials, notably sequential step-up in US SSS and higher Y/Y GP margins," Nattel said in a note to clients.
"We have been very clear in our view that the key to ATD multiple re-rating is delivering on the financial objectives outlined" at its February investor day, the analyst said.
RBC reiterated a "constructive view on ATD and upside bias to valuation based on improving results, track record of disciplined capital allocation/ability to deliver across cycles."
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