Wilan Downgraded to “Sector Underperform” at CIBC (WIN)
Wilan (TSE:WIN) was downgraded by CIBC from an “outperform” rating to a “sector underperform” rating in a research note issued on Thursday, StockRatingsNetwork.com reports. They currently have a C$3.00 target price on the stock, down from their previous target price of C$7.25. CIBC’s price objective indicates a potential downside of 7.69% from the company’s current price.
Wilan (TSE:WIN) traded up 2.85% during mid-day trading on Thursday, hitting $3.25. 3,015,309 shares of the company’s stock traded hands. Wilan has a 52-week low of $3.27 and a 52-week high of $5.69. The stock has a 50-day moving average of $3.51 and a 200-day moving average of $4.09. The company’s market cap is $393.5 million.
Other equities research analysts have also recently issued reports about the stock. Analysts at Paradigm Capital downgraded shares of Wilan from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Analysts at BMO Capital Markets cut their price target on shares of Wilan from C$5.00 to C$4.00 in a research note to investors on Friday, August 9th. They now have a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of C$4.14.
Wi-LAN Inc (TSE:WIN) is a licensing company.
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