Canadian National Railway, Crombie REIT, Richelieu: Canada Equity Preview
Shares of the following companies may have unusual moves in Canadian trading.
Crombie Real Estate Investment Trust (CRR-U CT): The REIT, which calls itself the largest landlord in Canada’s Atlantic provinces, said it would sell at least 2.67 million units at C$11.05 a unit. The funds raised will help pay for the C$102 million ($97.7 million) purchase of 11 retail properties from Empire Co. Crombie units gained 1.3 percent yesterday to C$11.30.
Richelieu Hardware Ltd. (RCH CT): The maker of hardware for cabinets, furniture, windows and doors was raised to “buy” from “hold” at TD Newcrest Inc. by equity analyst Jessy Hayem. The 12-month target price is C$31.00 per share.