TopPicks from Stephen Takacsy, president, chief executive officer and chief investment officer, Lester Asset Management
Stephen Takacsy, president, CEO, and chief investment officer at Lester Asset Management, discusses his top picks: Neighbourly Pharmacy, Cargojet, and Park Lawn.NBLY is Canada’s third-largest pharmacy chain with 284 locations in seven provinces, mainly located in rural communities. Its strategy is to consolidate this still very fragmented industry and generate operating efficiencies while improving the top line like front-of-the-store sales.
. The company released good results a few weeks ago with strong same-store sales growth and increased margins. In the low $20s the stock is now attractively priced considering its strong growth, margin and free cash flow profile, at around 11X for such a high-quality business with limited competition and high barriers to entry.The only publicly traded company in Canada in the “deathcare” industry. PLC owns funeral homes, crematoria and cemeteries in Canada and the US. It’s a recession-proof high-margin high-barriers-to-entry business with strong tailwinds from aging demographics. Strong management team based in the U.S.
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