Finning International (TSE:FTT) Given New C$77.00 Price Target at CIBC

Key Points

• CIBC has raised its price target for Finning International from C$68.00 to C$77.00, indicating a potential upside of 8.62% from the previous close.
• Multiple analysts have also increased their price targets for Finning, with a consensus rating of "Moderate Buy" and an average target price of C$66.00.
• Finning International's stock rose 2.4% on Monday, trading at C$70.89, on a volume of 196,006 shares.

Finning International (TSE:FTT - Get Free Report) had its target price hoisted by research analysts at CIBC from C$68.00 to C$77.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. CIBC's price target would indicate a potential upside of 8.62% from the company's previous close.

Several other equities analysts have also recently weighed in on FTT. BMO Capital Markets increased their price objective on shares of Finning International from C$57.00 to C$66.00 in a research note on Tuesday, July 22nd. Raymond James Financial increased their price objective on shares of Finning International from C$56.00 to C$68.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their price objective on shares of Finning International from C$61.00 to C$67.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Scotiabank raised their target price on shares of Finning International from C$64.00 to C$71.00 in a research note on Friday. Finally, TD Securities raised their target price on shares of Finning International from C$69.00 to C$81.00 in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$66.00.

Finning International Stock Up 2.4%

FTT stock traded up C$1.63 during trading on Monday, hitting C$70.89. 196,006 shares of the stock traded hands, compared to its average volume of 486,927. Finning International has a 1 year low of C$34.59 and a 1 year high of C$70.91. The firm's 50 day moving average is C$60.98 and its two-hundred day moving average is C$54.30. The stock has a market cap of C$9.40 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.05. The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59.

About Finning International

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.