Scotiabank Increases Mullen Group (TSE:MTL) Price Target to C$29.00

Mullen Group (TSE:MTL) had its price target raised by research analysts at Scotiabank from C$24.00 to C$29.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 0.94% from the stock’s previous close. Scotiabank also issued estimates for Mullen Group’s FY2026 earnings at $1.23 EPS and FY2027 earnings at $1.25 EPS.

Several other analysts have also commented on the stock. Royal Bank Of Canada increased their price target on shares of Mullen Group from C$23.00 to C$30.00 in a research report on Friday. Desjardins raised their target price on shares of Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Raymond James Financial lifted their price target on shares of Mullen Group from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce increased their price objective on Mullen Group from C$20.00 to C$22.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Finally, National Bank Financial raised their price objective on Mullen Group from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Mullen Group has an average rating of “Moderate Buy” and an average target price of C$26.00.

Mullen Group Stock Up 7.2%

Shares of TSE MTL opened at C$28.73 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.06 and a debt-to-equity ratio of 89.59. The stock has a market capitalization of C$2.77 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The stock’s fifty day simple moving average is C$22.70 and its two-hundred day simple moving average is C$19.38. Mullen Group has a 12-month low of C$12.98 and a 12-month high of C$28.78.

Mullen Group (TSE:MTL) last released its quarterly earnings results on Thursday, July 23rd. The company reported C$0.41 EPS for the quarter. The firm had revenue of C$609.30 million during the quarter. Mullen Group had a return on equity of 9.35% and a net margin of 4.65%.

Insider Buying and Selling

In other Mullen Group news, Director Stephen H. Lockwood sold 3,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$21.50, for a total value of C$75,250.00. Following the transaction, the director owned 7,562 shares in the company, valued at approximately C$162,583. This trade represents a 31.64% decrease in their position. Corporate insiders own 6.32% of the company’s stock.

Mullen Group News Summary

Here are the key news stories impacting Mullen Group this week:

• Positive Sentiment: National Bank Financial raised its price target on Mullen Group to C$31 from C$23 and reiterated an outperform rating, suggesting meaningful upside versus the current share price. National Bank Financial price target increase
• Positive Sentiment: BMO Capital Markets lifted its target to C$32 from C$25, one of the highest targets in the group and a bullish sign for valuation expectations. BMO Capital Markets price target increase
• Positive Sentiment: Desjardins increased its target to C$30 from C$23 and kept a buy rating, reflecting continued confidence in Mullen Group’s outlook. Desjardins price target increase
• Positive Sentiment: Royal Bank of Canada also raised its target to C$30 from C$23, adding to the broader analyst optimism around the stock. RBC price target increase
• Positive Sentiment: Scotiabank boosted its target to C$29 from C$24 and increased FY2026 and FY2027 EPS estimates, indicating improved earnings expectations even though its formal rating remained Sector Perform. Scotiabank estimate and target update

Mullen Group Company Profile

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.