CIBC Forecasts Strong Price Appreciation for Exchange Income (TSE:EIF) Stock

Key Points

• CIBC has raised its target price for Exchange Income (TSE:EIF) from C$74.50 to C$84.50, indicating a potential upside of 13.13% from its current price, and maintaining an "outperform" rating.
• Several other analysts have also increased their target prices for Exchange Income, with a consensus rating of "Buy" and an average price target of C$79.68.
• Exchange Income's shares rose by 2.0%, reaching C$74.69, with a market capitalization of C$3.73 billion and a P/E ratio of 29.26.

Exchange Income (TSE:EIF - Get Free Report) had its price target upped by equities researchers at CIBC from C$74.50 to C$84.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. CIBC's price target would indicate a potential upside of 14.95% from the stock's previous close.

A number of other equities research analysts also recently weighed in on EIF. Royal Bank Of Canada boosted their price target on Exchange Income from C$64.00 to C$66.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. TD Securities boosted their target price on shares of Exchange Income from C$68.00 to C$70.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Raymond James Financial increased their target price on shares of Exchange Income from C$80.00 to C$85.00 and gave the stock a "strong-buy" rating in a report on Wednesday, August 13th. BMO Capital Markets set a C$59.00 price target on shares of Exchange Income and gave the stock a "market perform" rating in a research report on Tuesday, July 15th. Finally, Canaccord Genuity Group lifted their price target on shares of Exchange Income from C$75.00 to C$77.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$79.68.

Exchange Income Stock Up 0.9%

TSE EIF traded up C$0.64 on Wednesday, hitting C$73.51. 174,146 shares of the stock traded hands, compared to its average volume of 112,207. The company has a current ratio of 1.76, a quick ratio of 1.13 and a debt-to-equity ratio of 173.72. The stock has a 50-day moving average of C$64.66 and a 200 day moving average of C$56.60. Exchange Income has a twelve month low of C$45.00 and a twelve month high of C$75.13. The company has a market capitalization of C$3.67 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 1.42 and a beta of 2.04.

About Exchange Income

Exchange Income Corp is a diversified acquisition-oriented corporation focused on opportunities in two sectors, aerospace, aviation services and equipment, and manufacturing. The business plan of the corporation is to invest in profitable, well-established companies with strong cash flows operating in niche markets.