CIBC Lowers NFI Group (TSE:NFI) Price Target to C$20.00

Key Points

• CIBC has lowered its price target for NFI Group from C$23.00 to C$20.00, while maintaining an "outperform" rating on the stock, suggesting a potential upside of 27.88% from the current price.
• In contrast, other analysts like Stifel Nicolaus and BMO Capital Markets have raised their price targets for NFI Group, with BMO increasing theirs from C$14.00 to C$23.00 and changing the rating from "hold" to "strong-buy."
• NFI Group's stock recently traded at C$15.64, significantly below the revised analyst price targets, with a year range between C$9.83 and C$19.90.

NFI Group (TSE:NFI - Get Free Report) had its price target reduced by equities research analysts at CIBC from C$23.00 to C$20.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. CIBC's price target points to a potential upside of 27.88% from the company's current price.

A number of other equities analysts have also weighed in on NFI. Stifel Nicolaus upped their price objective on NFI Group from C$22.00 to C$23.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. BMO Capital Markets raised NFI Group from a "hold" rating to a "strong-buy" rating and upped their price objective for the stock from C$14.00 to C$23.00 in a research note on Thursday, July 17th. Finally, Scotiabank dropped their price objective on NFI Group from C$23.00 to C$22.00 in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, NFI Group presently has an average rating of "Buy" and an average price target of C$22.67.

NFI Group Stock Performance

NFI traded down C$0.53 during midday trading on Monday, reaching C$15.64. The company had a trading volume of 417,219 shares, compared to its average volume of 286,031. The company has a quick ratio of 0.55, a current ratio of 1.71 and a debt-to-equity ratio of 171.59. The business has a 50-day moving average of C$18.47 and a two-hundred day moving average of C$15.76. The company has a market cap of C$1.86 billion, a P/E ratio of -11.44, a P/E/G ratio of -0.07 and a beta of 0.75. NFI Group has a 1 year low of C$9.83 and a 1 year high of C$19.90.

About NFI Group

NFI Group Inc is a Canadian automobile manufacturer. The company organizes itself into two segments: Manufacturing operations, and Aftermarket operations. Manufacturing operations, which represents more than half of the company's revenue, includes the manufacture of transit buses for public transportation, and motor coaches.

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