01:57 PM EDT, 03/15/2024 (MT Newswires) -- National Bank noted that Alaris Equity Partners Income Trust (AD-UN.TO) overnight Thursday reported fourth-quarter results that were ahead of estimates.

The company's Q4 revenue of $41.9 million was above the NBF estimate of $40.4 million and consensus of $40.7 million.

EBITDA of $61.3 million was also above the $34.4 million forecast mainly because of a $27 million increase in investments at fair

value.

Also, EPU of $0.86 was ahead of the NBF estimate of $0.37 and the Street estimate of $0.44, National Bank noted.

"Our $24.50 target is based on a long term DCF using a 14.1% discount rate. The substantial return to target, coupled with robust execution and strong portfolio performance leave us confident in our Outperform rating," the analysts said.

The company's shares, which edged up 1.3% in Canada yesterday, jumped 3% on last look on Friday.

Price: 17.28, Change: +0.51, Percent Change: +3.04