Element Fleet Management Corp (EFN) Lowered to “Neutral” at CIBC
Element Fleet Management Corp (TSE:EFN) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. They currently have a C$11.00 price target on the financial services provider’s stock, up from their prior price target of C$10.00. CIBC’s price objective would indicate a potential upside of 10.66% from the stock’s current price.
A number of other research firms also recently issued reports on EFN. TD Securities cut their target price on shares of Element Fleet Management Corp from C$13.50 to C$11.00 and set a “hold” rating on the stock in a research report on Friday, July 28th. CSFB cut their target price on shares of Element Fleet Management Corp from C$14.50 to C$13.00 and set an “outperform” rating on the stock in a research report on Monday, July 31st. National Bank Financial set a C$11.50 target price on shares of Element Fleet Management Corp in a research report on Tuesday, August 8th. Royal Bank Of Canada upgraded shares of Element Fleet Management Corp from a “sector perform” rating to an “outperform” rating and set a C$13.00 target price on the stock in a research report on Monday, July 24th. Finally, BMO Capital Markets cut their target price on shares of Element Fleet Management Corp from C$15.00 to C$11.00 in a research report on Thursday, August 17th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Element Fleet Management Corp presently has an average rating of “Hold” and an average target price of C$11.40.
Element Fleet Management Corp (TSE EFN) traded down 3.68% during mid-day trading on Tuesday, hitting $9.94. 1,573,500 shares of the company were exchanged. Element Fleet Management Corp has a 12-month low of $6.20 and a 12-month high of $14.42. The company has a 50 day moving average of $9.35 and a 200 day moving average of $9.76. The stock has a market cap of $3.85 billion and a P/E ratio of 14.84.
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Element Fleet Management Corp Company Profile
Element Fleet Management Corp. operates as a fleet management company in North America. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.
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