Martinrea International’s “Sector Outperform” Rating Reaffirmed at CIBC (MRE)
Martinrea International (TSE:MRE)‘s stock had its “sector outperform” rating reaffirmed by CIBC in a research note issued on Tuesday, StockRatingsNetwork reports. They currently have a C$15.00 target price on the stock. CIBC’s price objective would suggest a potential upside of 42.72% from the stock’s previous close.
Martinrea International (TSE:MRE) traded up 0.10% on Tuesday, hitting $10.51. 260,768 shares of the company’s stock traded hands. Martinrea International has a 52-week low of $6.41 and a 52-week high of $12.75. The stock has a 50-day moving average of $12.09 and a 200-day moving average of $10.10. The company has a market cap of $883.4 million and a P/E ratio of 17.80.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets downgraded shares of Martinrea International from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, September 30th. Separately, analysts at Canaccord Genuity downgraded shares of Martinrea International from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 30th. They now have a C$11.50 price target on the stock, down previously from C$14.75. Finally, analysts at RBC Capital downgraded shares of Martinrea International from an “outperform” rating to a “sector perform” rating in a research note to investors on Monday, September 30th. They now have a C$15.00 price target on the stock. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$14.20.
Martinrea International Inc (TSE:MRE) is an automotive supplier, engaged in the design, development and manufacturing of metal parts, assemblies and modules and fluid management systems focused primarily on the automotive sector.
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