CIBC Cuts Pinnacle Renewable (TSE:PL) Price Target to C$14.00

Pinnacle Renewable (TSE:PL) had its target price reduced by investment analysts at CIBC from C$14.50 to C$14.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. CIBC’s target price indicates a potential upside of 38.07% from the stock’s previous close.

Separately, Royal Bank of Canada lowered their price target on Pinnacle Renewable from C$16.00 to C$15.00 and set an “outperform” rating for the company in a report on Friday, May 10th.

Shares of Pinnacle Renewable stock traded down C$0.23 during trading hours on Wednesday, hitting C$10.14. The company’s stock had a trading volume of 19,213 shares, compared to its average volume of 44,196. Pinnacle Renewable has a 12 month low of C$8.53 and a 12 month high of C$17.00. The stock has a 50 day simple moving average of C$9.86. The company has a market capitalization of $338.00 million and a P/E ratio of 42.58. The company has a quick ratio of 0.56, a current ratio of 1.11 and a debt-to-equity ratio of 171.27.

Pinnacle Renewable Company Profile

Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets in North America, Asia, and Europe. The company produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by utilities and large-scale power generators to produce renewable and baseload power.

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