“This acquisition fits nicely within Vincor’s strategy to acquire quality wineries in the major New World wine regions while building a strong international distribution network,” said CIBC’s analyst, Michael Van Aelst. CIBC World Markets has a 52-week price target of C$29 a share for Vincor.
CANADA: CIBC World Markets upgrades Vincor
CIBC World Markets has upgraded wine group, Vincor International, from "sector underperformer" to "sector performer" following the announcement of the company's acquisition of Goundrey Wines in Australia for C$54m ($34m) earlier this week.