Key buy for ATD

Article Excerpt

ALIMENTATION COUCHE-TARD, $66.62, is a buy. This retailer (Toronto symbol ATD; TSINetwork Rating: Average) (couchetard.com; Shares o/s: 1.1 billion; Market cap: $67.9 billion; Dividend yield: 0.8%) has now agreed to acquire retail assets in Europe from French energy giant TotalEnergies SE for 3.1 billion euros ($4.5 million Cdn.). Under the proposed deal, Couche-Tard will take over TotalEnergies’ retail networks in Germany and the Netherlands, comprising more than 1,500 service stations. TotalEnergies and Couche-Tard would also form a joint venture to own and operate over 600 service stations in Belgium and Luxembourg. The joint venture would be 60% owned by Couche-Tard and 40% owned by TotalEnergies. For Couche-Tard, the deal lets it grow further in Europe by expanding in some of that continent’s strongest economies. Alimentation Couche-Tard is a Power Buy. Buy…