Shares of Alimentation Couche-Tard Inc. (ATD-B.TO) hit an all-time high this week and analysts are hiking their targets after Canada’s largest convenience store operator reported higher profits and increased its dividend. The owner of Mac’s and Couche-Tard convenience stores in Canada and Circle K stores in U.S. will increase its dividend by 22 per cent next month to 5.5 cents.

CIBC World Market analyst Perry Caicco said Couche-Tard remains a top pick “regardless of possible overall sector multiple compression.” In a note, he said the company has “a stable core of assets, an improving and powerful balance sheet, and a laser focus on affordable (i.e. lower-multiple) acquisitions coupled with reliable capture of synergies.” He raised his target to $64, up from $55 and kept his “sector outperformer” rating.

Among 13 analysts that cover the stock, 10 have a “buy” and three have a “hold” recommendation. The analyst consensus price target over the next year is $59.09. The stock hit an all-time high of $58 on Thursday and is up 20 per cent so far this year. It has almost doubled over the past year.

BMO Capital Markets analyst Peter Sklar raised his target on Couche-Tard to $62 from $57. That’s even though the company missed his earnings estimates.

“Notwithstanding the earnings miss, we found that there were several positive developments during the quarter including strong organic growth, particularly in U.S. same-store merchandise sales and fuel volume, as well as positive commentary on continued realization of synergies,” he said in a note.

He sees the company continue to make “valuecreating acquisitions” across North America and Europe.

Canaccord Genuity analyst Derek Dley says the convenience-store chain is well positioned to pursue further acquisitions. “We continue to believe Couche-Tard has a robust pipeline for acquisitive growth as the integrated oil and gas producers in Europe begin to shed their downstream (retail) assets, in a similar fashion to what we have witnessed in the U.S. over the last 10 years,” he said in a report.

Couche-Tard CEO Brian Hannasch told investors recently the company is looking at added more brands to its stores, including potentially financial services and payment products.

The growth prognosis appears positive for investors in CRH Medical Corp. (CRH.TO), a Vancouver-based company with products and services that help doctors treat gastrointestinal (GI) diseases. The stock is up about 140 per cent so far this year and all three analysts that cover it have a “buy” rating, with a consensus of $6.63, which is about 40 per cent above where it’s currently trading, around $4.80. Bloom Burton initiated coverage of CRH Medical in June with a “buy” rating and $5.50 target. Analyst David Martin said his financial model and valuation is conservative, and doesn’t include additional acquisitions. “With 33 per cent expected upside to our ‘no M&A’ target, and an industry that is ripe for consolidation, we believe investors buying CRH stock at current levels have limited downside risk, with a good opportunity to realize additional value through future acquisitions,” Mr. Martin said in a note. He said an acquisition that adds $10 million annually to the company’s GI anesthesia services revenues starting in 2016, would boost his valuation to about $6.30 per share. “If similar transactions are modelled each year, the model valuation would increase to $12.40 per share (paying 2.9x revenues; funding 60 per cent debt:40 per cent equity).” Clarus Securities analyst David Novak has a “buy” and $5.50 target on CRH Medical, believing the “future is bright” for the company, which also offers anesthesia services. The company was “unjustifiably” associated with a recent correction in healthcare stocks, Mr. Novak said, while also forecasting acquisitions to come possibly later this year. “We note that CRH’s value proposition remains highly attractive even upon the removal of these assumptions,” he said in a recent note. “We suggest that investors can comfortably justify an investment based on CRH’s current operations, which remain discounted at today’s valuation, leaving significant upside in the form of highly probably future acquisitions.” Beacon Securities analyst Doug Cooper has a $6 target on CRH. “We are firm believers in the aging demographic profile in the western world and the positive impact it will have on the medical service industry. In particular for CRH, that demographic driven the Baby Boom population is coming right into the “sweet spot” for colon cancer screening,” Mr. Cooper noted.

Toronto-based Tucows, which Mr. Donville refers to as Canada’s GoDaddy.com, provides domain name registration and related Internet services and is investing in a new business branded “Ting” that will provide wireless services in the U.S.

The stock has soared 115 per cent over the past year on the Nasdaq, and Mr. Donville sees more growth ahead.

“We own it, we like it and we think the stock goes much higher in the coming years,” he told BNN this week.

The company trades both in Toronto and New York, but is more liquid south of the border, Mr. Donville said.

Cormark Securities analyst Hubert Mak has a “buy” on the stock.

“We like Tucows for its defensive quality coming from its market leading Internet domain registrar business that provides it with a steady cash flow stream,” he sad in a May 8 note after the company reported a jump in first-quarter earnings. He also expects the new Ting business to keep adding to its recurring revenue base.

The company said its first-quarter revenue rose 18 per cent to $40.5 million. Net income reached $2.8 million, up from $477,000 for the same period last year.

“We continue to believe TCX is defensive given the recurring cash flow strength coming from its top three global leading domain registration business,” said Mr. Mak. “While this core unit has been providing a steady base of capital that has enabled TCX to drive shareholder value by executing on multiple share buybacks, we believe the continued success with Ting Mobile which with its leverage will also now start to contribute an increasing level of recurring cash flows.”

Of the two analysts surveyed by Reuters Estimates that cover Tucows, the consensus rating is a “buy.”

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