Canadian Imperial Bank of Commerce Raises Linamar (TSE:LNR) Price Target to C$110.00

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Linamar from C$105 to C$110, implying about a 14.68% upside; the stock's consensus rating is a "Moderate Buy" with a mean target of C$102.57 (three Buy, three Hold).
• Shares jumped roughly 5.8% to C$95.92 on higher-than-average volume after the quarter, with Linamar reporting EPS of C$3.28 and revenue of C$2.94 billion; the company trades at a P/E of 9.86 and has a market cap of C$5.70 billion.

Linamar (TSE:LNR - Get Free Report) had its price target hoisted by stock analysts at Canadian Imperial Bank of Commerce from C$105.00 to C$110.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective would indicate a potential upside of 14.68% from the company's previous close.

LNR has been the topic of several other reports. TD lifted their price target on shares of Linamar from C$114.00 to C$116.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Raymond James Financial decreased their price objective on Linamar from C$100.00 to C$90.00 and set a "market perform" rating for the company in a report on Thursday, April 16th. TD Securities raised their price objective on Linamar from C$103.00 to C$114.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Finally, Scotiabank dropped their target price on Linamar from C$99.00 to C$96.00 and set a "sector perform" rating on the stock in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$102.57.

Linamar Stock Up 5.8%

Shares of LNR stock traded up C$5.26 during mid-day trading on Thursday, hitting C$95.92. 173,372 shares of the stock traded hands, compared to its average volume of 122,692. Linamar has a 52-week low of C$55.67 and a 52-week high of C$98.65. The stock has a market cap of C$5.70 billion, a P/E ratio of 9.86, a P/E/G ratio of 1.12 and a beta of 1.68. The company has a debt-to-equity ratio of 34.42, a current ratio of 1.73 and a quick ratio of 0.75. The stock's fifty day moving average is C$87.25 and its two-hundred day moving average is C$84.31.

Linamar (TSE:LNR - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$3.28 earnings per share (EPS) for the quarter. The firm had revenue of C$2.94 billion for the quarter. Linamar had a net margin of 5.71% and a return on equity of 9.92%. Equities analysts predict that Linamar will post 11.4332724 EPS for the current year.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company's Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.

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