TD Securities upgraded Topicus.com (TOITF) to Buy from Hold with a price target of C$170, up from C$156. The shares have fallen to levels that do not reflect the company’s “solid and improving” business fundamentals and its “superior ability” to deliver strong shareholder returns over the long run, the analyst tells investors in a research note. It believes the shares should outperform given Topicus.com’s “defensive” business model.
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