October 10, 2018 / 1:53 PM / 2 months ago

BUZZ-Parkland Fuel Corp: Up after co takes 75 pct stake in SOL

** Petroleum products marketer’s shares rise 6.8 pct to C$45.07 in early trade

** PKI says it will buy a 75 pct stake in privately held SOL Investments Ltd and its units for C$1.57 bln

** Deal gives co access to 526 retail gas stations, expanding its presence in the U.S. Gulf and Atlantic coasts

** Desjardins raises PKI’s PT by C$1 to C$47 on expectations of strong Q3 results, driven by higher fuel margins

** 6 of 7 brokerages rate the stock “buy” or higher, 1 “hold”; Median PT C$44.50

** Up to Tuesday’s close, stock had risen 57 pct YTD (Reporting by Laharee Chatterjee in Bengaluru)

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