12:42 PM EDT, 04/11/2024 (MT Newswires) -- North West Company ( NNWWF ) reported in-line Q4/23 operating results, with SSSG below forecast in both Canada and International. Sales growth moderated from a very strong Q3 (+1.4% SSSG); EBITDA +8.2% y/y (in line).

BMO's Stephen MacLeod notes there are "puts & takes on the near-term outlook," with International headwinds offset by expected Water Settlement payments (late-2024E / 2025E). Management remains optimistic on the medium- and longer-term term outlook, based on income payments and infrastructure spending in Indigenous communities.

"We rate North West Market Perform, but think the stock could appeal to income-oriented investors (4.0% yield)."

Target at $41.

Price: 38.86, Change: +0.18, Percent Change: +0.47