The Nova Scotia-based seafood company this week reported third-quarter net income of CAD $6.2 million ($6.2 million/€4.5 million), a 20.5 percent gain over the year-earlier period.
Beacon Securities says it's maintaining its “buy” rating on High Liner, and is boosting its 12-month target price from $13.50 ($13.44/€9.77) to $15 ($14.93/€10.85). It expects High Liner to boost its dividend in the first half of 2011, with the current payout at 24 percent of fiscal 2010’s estimated earnings.
Beacon analyst Michael Mills said in a note to investors on Wednesday he is impressed with a 3.6
