September 10, 2018 / 7:09 AM / 2 months ago

BUZZ-Onex Corp: Core long-term holding, RBC says, upgrading to 'top pick'

** RBC upgrades Canadian fund manager Onex to “top pick” from “outperform”, raises price target to C$111 from C$110 on stronger dollar

** Stock a core holding appropriate for owning in the long-term, RBC says

** Combination of potential double-digit net asset value (NAV) growth over the long-term, lower share price volatility and share price defensiveness make Onex’s share price attractive at current levels - RBC

** Potential to deliver even low double-digit NAV growth (plus the dividend) but with lower share price volatility and defensive attributes is attractive - RBC

** Broker estimates Onex’s NAV has grown at a 13 pct compound annual growth rate over the past 9 years (Reporting by Maqsood Alam in Bengaluru)

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