National Bankshares Forecasts Strong Price Appreciation for Extendicare (TSE:EXE) Stock

Key Points

• National Bankshares has increased the target price for Extendicare (TSE:EXE) from C$16.10 to C$17.50, indicating a potential upside of 17.77% from its current price.
• CIBC World Markets also upgraded Extendicare to a "strong-buy" rating, setting a higher price objective of C$18.00.
• Currently, Extendicare's stock has a consensus rating of "Moderate Buy" with an average price target of C$15.20 based on multiple analysts' evaluations.

Extendicare (TSE:EXE - Get Free Report) had its target price hoisted by investment analysts at National Bankshares from C$16.10 to C$17.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bankshares' target price points to a potential upside of 17.77% from the company's current price.

EXE has been the topic of several other research reports. Cibc World Mkts raised shares of Extendicare to a "strong-buy" rating in a research note on Monday, September 22nd. CIBC set a C$18.00 price objective on shares of Extendicare and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Finally, National Bank Financial raised shares of Extendicare to a "strong-buy" rating in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$15.20.

Extendicare Trading Up 0.1%

Shares of TSE EXE traded up C$0.02 during midday trading on Wednesday, hitting C$14.86. 122,845 shares of the company traded hands, compared to its average volume of 183,081. Extendicare has a 12-month low of C$8.96 and a 12-month high of C$15.32. The company has a debt-to-equity ratio of 283.02, a quick ratio of 0.98 and a current ratio of 0.62. The stock has a 50-day moving average price of C$13.48 and a 200 day moving average price of C$13.59. The firm has a market cap of C$1.25 billion, a P/E ratio of 15.40 and a beta of 0.88.

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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