TD Securities analyst Derek Lessard upgraded Dorel Industries (DIIBF) to Hold from Sell with a price target of C$2.50, up from C$1, after Dorel announced that it has completed the closing of new credit facilities with a group of lenders. Though the firm expects challenging industry conditions to persist, it believes the new credit facilities should help advance Dorel’s strategic agenda by granting the company “some breathing room to execute,” the analyst tells investors.
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