Converge Technology Solutions (TSE:CTS) Stock Price Expected to Rise, TD Securities Analyst Says

Converge Technology Solutions (TSE:CTS) had its price target hoisted by stock analysts at TD Securities from C$5.50 to C$6.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “sell” rating on the stock. TD Securities’ price objective would suggest a potential upside of 0.67% from the company’s current price.

A number of other brokerages have also recently weighed in on CTS. Scotiabank upped their price objective on Converge Technology Solutions from C$5.50 to C$6.00 in a research note on Wednesday. Desjardins lowered Converge Technology Solutions from a “buy” rating to a “tender” rating and lifted their price objective for the company from C$5.00 to C$5.50 in a research note on Friday, March 7th. Stifel Canada upgraded Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th. Ventum Financial downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and decreased their price objective for the company from C$6.00 to C$5.50 in a report on Monday, February 10th. Finally, Jefferies Financial Group reduced their price target on Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$16.63.

Converge Technology Solutions Price Performance

Shares of CTS stock opened at C$5.96 on Thursday. The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68. The company’s 50-day simple moving average is C$5.12 and its two-hundred day simple moving average is C$4.20. The company has a market capitalization of C$1.12 billion, a P/E ratio of -7.15, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06.

About Converge Technology Solutions

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.