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COT.N

ISIN: CA22163N1069
SEDOL: 2228941

Rating:

SELL

Target Price:

1.01 USD

Investment Horizon:

6 to 12 months
5th May 2009 View Report   Download

1Q 09 News Alert

While Cott Corporation’s (Cott) 1Q 09 revenues were in line with our expectation, EBITDA was significantly higher than our expectation. Although we expect Cott to struggle in international markets, we believe robust revenue growth from North America, reflecting the increase in demand for private label value products amid declining consumer spending; will support revenue growth, going forward....

8th Apr 2009 View Report   Download

4Q 08 & FY 2008 Update Report

The strategy of focusing on private label products proved beneficial for Cott in North America and we believe the company has a strong position to leverage on it’s portfolio of value products, which attracts consumers in the prevailing economic downturn. We believe this strategy provides a potential turnaround opportunity over the near term. Although we remain skeptical for any significant increase in revenues, we expect…

27th Feb 2009 View Report   Download

4Q 08 & FY 2008 News Alert

Although Cott Corporation’s (Cott) 4Q 08 revenues were in line with our expectation, EBITDA was significantly below our estimate. Going forward, we expect falling consumer spending, tough competition and the downturn in the global economy to negatively impact the Carbonated Soft Drinks (CSD) industry over the medium term. Considering the company’s weak 4Q 08 results, we are likely to revise our target price and estimates downwards…

28th Jan 2009 View Report   Download

Company News Alert

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On 27 January 2009, Cott Corporation’s (Cott) NYSE common stock price declined significantly following Wal-Mart Stores Inc.’s (Wal-Mart) decision to phase-out its exclusive supply agreement with Cott in the US. As Wal-Mart represents a significant proportion of Cott’s US business, we expect Wal- Mart’s decision to severely impact Cott’s performance going forward. Furthermore, we expect this development to limit Cott’s cost cutting program…

14th Nov 2008 View Report   Download

Company News Alert

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Cott Corporation (Cott) achieved its SELL target price on 13 November 2008, reflecting the announcement of disappointing 3Q 08 results, rising investor concerns over its ability to refinance and underlying weak fundamentals, as discussed in our 3Q 08 update report. However, as we do not anticipate a further decline from current levels and given the current target price supports a HOLD rating, we upgrade our Cott NYSE…