Manitoba Telecom Services Rating Lowered to Sell at Canaccord Genuity (MBT)
Manitoba Telecom Services (TSE:MBT) was downgraded by research analysts at Canaccord Genuity from a “hold” rating to a “sell” rating in a report released on Tuesday, Analyst Ratings Network reports. They currently have a C$30.00 target price on the stock, down from their previous target price of C$34.00. Canaccord Genuity’s target price suggests a potential downside of 7.29% from the stock’s previous close.
Manitoba Telecom Services (TSE:MBT) traded down 8.13% during mid-day trading on Tuesday, hitting $29.73. 2,309,340 shares of the company’s stock traded hands. 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.
A number of other firms have also recently commented on MBT. 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. Separately, 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. Finally, analysts at Scotiabank raised their price target on shares of Manitoba Telecom Services from C$33.00 to C$34.00 in a research note to investors on Monday, July 29th. They now have a “sector perform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. 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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