CIBC Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT) had its price objective upped by equities research analysts at CIBC from C$48.00 to C$50.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective points to a potential upside of 30.45% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group reduced their target price on shares of Finning International from C$53.00 to C$51.00 in a research report on Thursday, November 14th. BMO Capital Markets dropped their price objective on shares of Finning International from C$50.00 to C$46.00 in a report on Thursday, November 14th. Scotiabank set a C$51.00 price objective on shares of Finning International and gave the company an “outperform” rating in a report on Wednesday, August 21st. Royal Bank of Canada dropped their price objective on shares of Finning International from C$50.00 to C$46.00 in a report on Thursday, November 14th. Finally, Raymond James dropped their price objective on shares of Finning International from C$52.00 to C$50.00 in a report on Thursday, November 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$48.25.

Finning International Stock Performance

TSE:FTT opened at C$38.33 on Thursday. The company has a debt-to-equity ratio of 113.71, a quick ratio of 0.59 and a current ratio of 1.55. The company has a fifty day moving average of C$40.68 and a two-hundred day moving average of C$40.21. The stock has a market capitalization of C$5.35 billion, a PE ratio of 10.92, a P/E/G ratio of 0.56 and a beta of 1.55. Finning International has a fifty-two week low of C$34.28 and a fifty-two week high of C$45.17.

About Finning International

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.