Trimac Income Fund initiated with "buy"

09/27/06 - Research Capital

NEW YORK, September 27 (newratings.com) - Analysts at Research Capital initiate coverage of Trimac Income Fund (TMA.UN) with a "buy" rating. The 12-month target price is set to C$11.75.

In a research note published yesterday, the analysts mention that there is high visibility into Trimac Income Fund’s sales going forward due to the company's loyal and strong customer base. Trimac Income Fund has been able to achieve stable sales growth and margins by diversifying its customer base, product portfolio and geographic areas, the analysts say. Trimac Income Fund's unit price is expected to appreciate if the company undertakes acquisitions and raises its distributions, Research Capital adds.