CIBC World Markets Forecasts Strong Price Appreciation for Finning International (TSE:FTT) Stock

Finning International (TSE:FTT) had its target price upped by research analysts at CIBC World Markets from C$84.00 to C$102.00 in a research report issued on Saturday,BayStreet.CA reports. CIBC World Markets’ price objective would suggest a potential upside of 14.74% from the company’s current price.

A number of other brokerages have also recently weighed in on FTT. Scotiabank boosted their price target on shares of Finning International from C$71.00 to C$85.00 in a research note on Thursday, November 13th. National Bankshares lifted their target price on shares of Finning International from C$66.00 to C$72.00 and gave the company a “sector perform” rating in a report on Monday, December 15th. Raymond James Financial boosted their price objective on Finning International from C$68.00 to C$85.00 in a report on Thursday, November 13th. TD Securities increased their target price on Finning International from C$88.00 to C$100.00 in a research note on Wednesday, February 4th. Finally, Canadian Imperial Bank of Commerce raised their target price on Finning International from C$84.00 to C$102.00 in a report on Friday. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$84.22.

Finning International Stock Up 3.0%

FTT opened at C$88.90 on Friday. Finning International has a 1-year low of C$34.59 and a 1-year high of C$89.85. The business has a 50 day moving average of C$79.21 and a 200-day moving average of C$69.95. The stock has a market capitalization of C$11.68 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 0.56 and a beta of 0.80. The company has a current ratio of 1.65, a quick ratio of 0.59 and a debt-to-equity ratio of 98.14.

Finning International Company Profile

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.