Desjardins Forecasts Strong Price Appreciation for Foraco International (TSE:FAR) Stock

Foraco International (TSE:FAR) had its target price boosted by investment analysts at Desjardins from C$3.00 to C$4.50 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective points to a potential upside of 35.54% from the company’s previous close.

Foraco International Stock Performance

Shares of Foraco International stock opened at C$3.32 on Tuesday. The stock has a market cap of C$327.10 million, a price-to-earnings ratio of 20.72 and a beta of 0.62. Foraco International has a twelve month low of C$1.57 and a twelve month high of C$3.42. The company’s fifty day moving average is C$2.73 and its 200 day moving average is C$2.34. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 115.59.

About Foraco International

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.