Stephens analyst Thomas Wendler initiated coverage of Boyd Group Services (BYDGF) with an Overweight rating and C$240 price target Decreased automotive crashes and higher total loss rates have lowered sentiment, which has created a buying opportunity in the firm’s view. A tick-up in used vehicle pricing should drive total loss rates lower and market share continues to flow towards large multi-shop operators, says the analyst, who notes that Boyd is targeting a 10% market share by 2029.
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