01:43 PM EST, 12/11/2024 (MT Newswires) -- National Bank hosted Dollarama ( DLMAF ) management in Montreal and Boston on Dec. 9 and 10.

Key discussion topics included the Canadian consumer outlook, international expansion, and a new logistics hub in Western Canada.

"We continue to hold a positive medium-term view on DOL's shares given its defensive growth orientation supported by strong cash flows, a solid balance sheet and resilient sales performance," analyst Vishal Shreedhar notes. He also believes international growth will become increasingly important, likely aided by acquisitions (medium-term).

Given premium valuation, difficult y/y compares and heightened near-term capital outlay, Shreedhar expects the share price to be range-bound until financial performance returns to historical levels.

Maintain Sector Perform; price target is $149.

Price: 141.91, Change: -0.32, Percent Change: -0.23