Mullen Group (MTL) PT Lowered to C$19.00
Mullen Group (TSE:MTL) had its target price cut by investment analysts at Industrial Alliance Securities from C$20.00 to C$19.00 in a research report issued on Tuesday. The firm presently has a “strong-buy” rating on the stock. Industrial Alliance Securities’ target price would indicate a potential upside of 30.14% from the stock’s previous close.
Several other equities analysts have also issued reports on the stock. National Bank Financial lowered shares of Mullen Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$18.25 to C$16.50 in a report on Monday. TD Securities reiterated a “hold” rating and set a C$18.00 target price on shares of Mullen Group in a report on Tuesday, October 31st. Canaccord Genuity lowered their target price on shares of Mullen Group from C$19.00 to C$18.00 in a report on Friday, October 27th. Finally, Scotiabank lowered shares of Mullen Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$18.00 to C$17.50 in a report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of C$17.75.
Mullen Group (TSE:MTL) traded down C$0.15 during mid-day trading on Tuesday, hitting C$14.60. 159,891 shares of the stock traded hands, compared to its average volume of 157,349. Mullen Group has a 1 year low of C$14.44 and a 1 year 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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