Canaccord Genuity Group Forecasts Strong Price Appreciation for Converge Technology Solutions (TSE:CTS) Stock

Converge Technology Solutions (TSE:CTS) had its price target raised by equities researchers at Canaccord Genuity Group from C$153.00 to C$154.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock.

Several other research firms have also recently weighed in on CTS. Cormark upgraded shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. TD Securities upgraded shares of Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group dropped their target price 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. CIBC upped their target price on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th. Finally, Desjardins cut shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and upped their target price for the company from C$5.00 to C$5.50 in a research report on Friday. Six research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to MarketBeat, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and an average price target of C$28.83.

Converge Technology Solutions Stock Performance

CTS stock opened at C$5.44 on Friday. 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 has a 50 day moving average price of C$4.32 and a 200 day moving average price of C$4.05. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The stock has a market capitalization of C$1.03 billion, a PE ratio of -6.52, a price-to-earnings-growth 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.