National Bank of Canada Raises Alimentation Couche-Tard Price Target Ahead of Fiscal Q4 Results

04:04 PM EDT, 05/27/2026 (MT Newswires) -- National Bank of Canada on Wednesday raised its price target on the shares of Alimentation Couche-Tard (ANCTF) to C$91.00 from C$89.00 while maintaining its outperform rating ahead of the company's fiscal fourth-quarter results, set to be released on June 22.

The analysts said they expect earnings per share to be US$0.58, above the consensus of US$0.53 and up from US$0.46 last year. The expected 26% year-over-year EPS growth is driven by merchandise sales growth, stronger merchandise and fuel margins, contributions from the GetGo acquisition, and share buybacks, partly offset by higher depreciation, interest expense, and taxes.

Higher fuel margins are expected across all regions of operations, mainly due to increased fuel price volatility and continued supply chain improvements. However, higher fuel prices are likely to pressure U.S. fuel demand, particularly among lower-income households, the analysts said.

The analysts added that, in U.S. merchandise sales, growth is expected to be supported by food initiatives and momentum in nicotine, partly offset by consumer caution. The company previously said positive sales trends from fiscal Q3, when same-store sales growth was 2.8%, continued into part of fiscal Q4.

"The key for Alimentation Couche-Tard (ANCTF) is to deliver sustained growth via organic drivers, share repurchases, and acquisitions. We believe that the company is on firmer footing to deliver growth as numerous revenue drivers/efficiencies are in place, and largely showing results," the analysts said.

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