Manitoba Telecom Services Downgraded to Sector Perform at RBC Capital (MBT)
Manitoba Telecom Services (TSE:MBT) was downgraded by investment analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a note issued to investors on Tuesday, StockRatingsNetwork reports. They currently have a C$31.00 target price on the stock, down from their previous target price of C$37.00. RBC Capital’s target price points to a potential downside of 4.20% from the stock’s previous close.
Manitoba Telecom Services (TSE:MBT) traded down 8.13% during mid-day trading on Tuesday, hitting $29.73. The stock had a trading volume of 2,309,340 shares. Manitoba Telecom Services has a one year low of $31.21 and a one year high of $36.60. The stock has a 50-day moving average of $33.56 and a 200-day moving average of $33.60. The company has a market cap of $2.014 billion and a P/E ratio of 30.53.
MBT has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity downgraded shares of Manitoba Telecom Services from a “hold” rating to a “sell” rating in a research note to investors on Tuesday. They now have a C$30.00 price target on the stock, down previously from C$34.00. Separately, analysts at TD Securities cut their price target on shares of Manitoba Telecom Services from C$39.00 to C$37.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Scotiabank cut their price target on shares of Manitoba Telecom Services from C$34.00 to C$31.50 in a research note to investors on Tuesday. They now have a “sector perform” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of C$32.79.
Manitoba Telecom Services Inc (TSE:MBT) is a communications provider.
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