CIBC Forecasts Strong Price Appreciation for Converge Technology Solutions (TSE:CTS) Stock

Converge Technology Solutions (TSE:CTS) had its price target raised by CIBC from C$5.50 to C$6.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 0.67% from the stock’s previous close.

Several other research analysts have also recently weighed in on CTS. Jefferies Financial Group dropped their price objective on shares of Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the stock a “hold” rating in a report on Thursday, January 16th. Stifel Canada raised shares of Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. Desjardins downgraded Converge Technology Solutions from a “buy” rating to a “tender” rating and increased their price target for the stock from C$5.00 to C$5.50 in a report on Friday, March 7th. Finally, Ventum Financial lowered shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and dropped their price objective for the stock from C$6.00 to C$5.50 in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a strong buy rating to the stock. According to MarketBeat, Converge Technology Solutions presently has an average rating of “Hold” and a consensus price target of C$16.63.

Converge Technology Solutions Trading Down 1.2 %

Shares of CTS opened at C$5.96 on Thursday. The stock has a fifty day moving average price of C$5.12 and a two-hundred day moving average price of C$4.20. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The company has a market cap of C$1.12 billion, a price-to-earnings ratio of -7.15, a PEG ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.