Canaccord Genuity Increases Toromont Industries Price Target to C$27.50 (TIH)
Equities research analysts at Canaccord Genuity lifted their price target on shares of Toromont Industries (TSE:TIH) from C$24.50 to C$27.50 in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective suggests a potential upside of 22.77% from the company’s current price.
A number of other analysts have also recently weighed in on TIH. Analysts at Desjardins raised their price target on shares of Toromont Industries from C$23.00 to C$24.00 in a research note to investors on Tuesday, July 30th. They now have a “hold” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Toromont Industries from C$25.00 to C$26.50 in a research note to investors on Tuesday, July 30th. Finally, analysts at RBC Capital cut their price target on shares of Toromont Industries from C$27.00 to C$26.00 in a research note to investors on Tuesday, July 30th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Toromont Industries currently has a consensus rating of “Buy” and a consensus target price of C$25.03.
Toromont Industries (TSE:TIH) traded down 0.49% during mid-day trading on Thursday, hitting $22.29. The stock had a trading volume of 107,568 shares. Toromont Industries has a 1-year low of $18.61 and a 1-year high of $24.54. The stock’s 50-day moving average is $23.15 and its 200-day moving average is $23.01. The company has a market cap of $1.708 billion and a P/E ratio of 14.00.
Toromont Industries Ltd. (TSE:TIH) is engaged across a range of industry market segments.
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