Mullen Group (MTL) Downgraded to “Sector Perform” at National Bank Financial
Mullen Group (TSE:MTL) was downgraded by research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research report issued on Monday. They currently have a C$16.50 price target on the stock, down from their prior price target of C$18.25. National Bank Financial’s price objective points to a potential upside of 11.86% from the company’s previous close.
A number of other research firms have also weighed in on MTL. Scotiabank lowered shares of Mullen Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$18.00 to C$17.50 in a report on Thursday, October 12th. TD Securities reissued a “hold” rating and issued a C$18.00 target price on shares of Mullen Group in a report on Tuesday, October 31st. Finally, Canaccord Genuity cut their target price on shares of Mullen Group from C$19.00 to C$18.00 in a report on Friday, October 27th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of C$17.59.
Mullen Group (TSE MTL) traded up C$0.10 during trading on Monday, hitting C$14.75. 194,592 shares of the stock traded hands, compared to its average volume of 157,338. Mullen Group has a 52-week low of C$14.44 and a 52-week high of C$20.32.
Mullen Group Ltd is a Canada-based supplier of trucking and logistics services. It operates through two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States, such as transporting goods, including general freight; commodities, such as cable, pipe and steel; over-dimensional loads, such as heavy equipment and compressors, and dry bulk commodities, such as cement and frac sand.
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