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Investing.com - Raymond (NSE:RYMD) James has raised its price target on Parkit Enterprise Inc (CVE:PKT) to C$0.70 from C$0.65 while maintaining a Market Perform rating on the stock.
The firm notes that both PROREIT and Parkit have indicated they will evaluate potential future transactions between the two companies on a case-by-case basis.
Raymond James believes the companies have additional operational overlap in Southwestern Ontario, Ottawa, and Montreal regions, which could present future opportunities.
The analyst report suggests Parkit may benefit from possible access to a pipeline of future Canadian industrial facility acquisition opportunities through its related party, Access Storage.
Raymond James expects that any future Canadian industrial facility acquisitions by Parkit would likely aim to leverage the company’s value-add real estate expertise, while noting that Parkit’s investment in PROREIT may increase over time.
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