Extendicare (TSE:EXE) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Key Points

• Canadian Imperial Bank of Commerce raised its target on Extendicare (TSE:EXE) from C$22 to C$32, implying about a 16.4% upside from the prior close.
• Several other firms (RBC, National Bank, Cormark, BMO, Canaccord) have also boosted targets, leaving a MarketBeat consensus rating of Buy with a consensus target of C$26.79.
• Shares recently traded at C$27.50; Extendicare has a market cap of C$2.60 billion, a P/E of 24.71, and reported C$0.29 EPS on C$462.03 million in revenue for the latest quarter.

Extendicare (TSE:EXE - Get Free Report) had its target price increased by Canadian Imperial Bank of Commerce from C$22.00 to C$32.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price would indicate a potential upside of 16.36% from the company's previous close.

A number of other equities analysts have also recently commented on EXE. Royal Bank Of Canada raised shares of Extendicare from a "hold" rating to a "moderate buy" rating and lifted their price objective for the stock from C$15.00 to C$25.00 in a research note on Thursday, December 4th. Canaccord Genuity Group upped their target price on shares of Extendicare from C$20.00 to C$22.50 in a research report on Thursday, December 4th. National Bank Financial increased their price target on shares of Extendicare from C$24.50 to C$29.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Cormark lifted their price target on Extendicare from C$25.00 to C$30.00 in a research report on Wednesday, December 3rd. Finally, BMO Capital Markets boosted their price objective on Extendicare from C$24.00 to C$30.00 in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Extendicare currently has an average rating of "Buy" and a consensus target price of C$26.79.

Extendicare Price Performance

Shares of Extendicare stock traded up C$0.72 during trading on Thursday, reaching C$27.50. 134,214 shares of the stock traded hands, compared to its average volume of 316,826. The company has a market capitalization of C$2.60 billion, a price-to-earnings ratio of 24.71 and a beta of 1.30. The business has a fifty day simple moving average of C$25.11 and a two-hundred day simple moving average of C$20.87. The company has a debt-to-equity ratio of 91.85, a current ratio of 1.37 and a quick ratio of 0.98. Extendicare has a 52-week low of C$12.12 and a 52-week high of C$27.89.

Extendicare (TSE:EXE - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported C$0.29 EPS for the quarter. Extendicare had a return on equity of 47.65% and a net margin of 5.82%.The company had revenue of C$462.03 million for the quarter. Sell-side analysts expect that Extendicare will post 0.6134729 EPS for the current year.

About Extendicare

Extendicare Inc, operating solely in Canada, is the largest private-sector owner and operator of long-term care (LTC") homes and one of the largest private-sector providers of publicly funded home health care services.

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