Linamar (TSE:LNR) Rating Increased to Strong-Buy at Cibc World Mkts

Key Points

• Linamar has been upgraded by CIBC World Markets from a "hold" to a "strong-buy" rating, indicating a positive outlook for the company's stock.
• Analysts have significantly adjusted their price targets for Linamar, with the consensus now at C$82.40, after various firms raised their estimates, including Raymond James who set a target of C$80.00.
• Shares of Linamar are trading slightly down at C$74.09, and the company has shown strong market indicators with a P/E ratio of 7.73 and a market capitalization of C$4.53 billion.

Linamar (TSE:LNR - Get Free Report) was upgraded by analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

LNR has been the subject of a number of other research reports. Raymond James Financial lifted their price objective on Linamar from C$70.00 to C$80.00 and gave the company a "market perform" rating in a research report on Thursday, August 14th. CIBC upgraded Linamar from a "neutral" rating to an "outperform" rating and lifted their price target for the company from C$77.00 to C$87.00 in a report on Tuesday. Scotiabank increased their price objective on Linamar from C$71.00 to C$80.00 and gave the stock a "sector perform" rating in a report on Thursday, August 14th. BMO Capital Markets raised their price objective on shares of Linamar from C$75.00 to C$80.00 in a research report on Thursday, August 14th. Finally, TD Securities boosted their target price on shares of Linamar from C$78.00 to C$85.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$82.40.

Linamar Trading Down 0.2%

Shares of TSE:LNR opened at C$74.09 on Monday. The firm has a fifty day moving average of C$67.82 and a two-hundred day moving average of C$58.97. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84. Linamar has a 12-month low of C$43.84 and a 12-month high of C$74.81. The firm has a market capitalization of C$4.53 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

About Linamar

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.

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