Dollarama (DOL) Stock Price Up -2.1% Following Analyst Upgrade

Dollarama Inc. (TSE:DOL) rose 2.1% during trading on Thursday after Scotiabank raised their price target on the stock from C$162.00 to C$165.00. Scotiabank currently has an outperform rating on the stock. Dollarama traded as high as C$151.66 and last traded at C$149.73. Approximately 1,394,341 shares traded hands during mid-day trading, an increase of 291% from the average daily volume of 356,253 shares. The stock had previously closed at C$152.97.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company initiated coverage on Dollarama in a report on Friday, November 3rd. They issued a “market perform” rating and a C$150.00 price objective for the company. Desjardins upgraded Dollarama from a “hold” rating to a “buy” rating and upped their price objective for the company from C$134.00 to C$154.00 in a report on Friday, September 8th. Raymond James Financial upped their price objective on Dollarama from C$140.00 to C$143.00 in a report on Friday, September 8th. BMO Capital Markets reiterated an “outperform” rating and issued a C$155.00 price objective on shares of Dollarama in a report on Monday, October 16th. Finally, Royal Bank Of Canada upped their price objective on Dollarama from C$143.00 to C$161.00 in a report on Friday, November 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Dollarama has an average rating of “Buy” and an average price target of C$161.42.

In other Dollarama news, insider Geoffrey Peter Robillard sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of C$133.99, for a total value of C$669,950.00.

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About Dollarama

Dollarama Inc is a Canada-based holding company. The Company operates dollar stores. It has approximately 1,030 stores in operation in Canada. Its stores have an average area of approximately 9,942 square feet, and offer a range of consumer products, general merchandise and seasonal items, including private label and nationally branded products.

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