We believe there are structural headwinds facing the Western Canadian remote accommodations industry (details enclosed within) which are going to result in lower ROCE in upcoming years relative to historical averages. As a result, we believe the valuation being applied to Black Diamond needs to continue to move lower.
14 Aug 2015
Downgrading to Underperform
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Downgrading to Underperform
Black Diamond Group Limited (BDI:TSE) | 0 0 1.4% | Mkt Cap: 165.7m
- Published:
14 Aug 2015 -
Author:
Ian B. Gillies -
Pages:
7
We believe there are structural headwinds facing the Western Canadian remote accommodations industry (details enclosed within) which are going to result in lower ROCE in upcoming years relative to historical averages. As a result, we believe the valuation being applied to Black Diamond needs to continue to move lower.