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Company News

BUZZ-Aging baby boomers, higher death rates lift Park Lawn stock

** Funeral services provider’s shares up 6.2 pct at C$26.74

** At least 3 brokerages raise PTs on Q4 2018 results; CIBC to C$30 from C$26, Canaccord Genuity to C$30 from C$29.50 and Cormark Securities to C$32.50 from C$26.75

** Park Lawn’s adjusted earnings jumped 85 pct to C$15.9 million for full-year 2018 ($11.84 million)

** Bigger rival Service Corporation International’s earnings fell ~18 pct in the same period

** An aging population in North America, increasing death rates set to help Park Lawn funeral services - Paradigm Capital

** Apart from that, Park Lawn’s purchase of New Jersey cemetery also seen as growth driver

** All 9 brokerages covering the stock rate it “buy” or higher; median PT C$30

** Including session’s gains, stock up ~16 pct YTD ($1 = 1.3431 Canadian dollars) (Reporting by Shanti S Nair in Bengaluru)

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