Neo Performance Materials (TSE:NEO) Given New C$55.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised Neo Performance Materials’ price target to C$55.00 from C$49.00 and maintained a “buy” rating, implying 47.73% potential upside from the prior close.
• Analyst sentiment remains positive: BMO raised its target to C$60.00, ATB Cormark to C$53.50, and the four analysts covering the stock collectively assign an average “Buy” rating with a C$56.17 target.
• Neo reported C$0.73 in quarterly EPS on C$292.32 million in revenue, while shares traded down to C$37.23; the company nevertheless posted negative net margin and return on equity for the quarter.

Neo Performance Materials (TSE:NEO - Get Free Report) had its target price increased by Stifel Nicolaus from C$49.00 to C$55.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would indicate a potential upside of 47.73% from the stock's previous close.

Several other research analysts have also recently weighed in on the company. BMO Capital Markets boosted their target price on Neo Performance Materials from C$43.00 to C$60.00 in a report on Monday, July 13th. ATB Cormark Capital Markets increased their price target on Neo Performance Materials from C$43.00 to C$53.50 and gave the company an "outperform" rating in a report on Friday, July 10th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$56.17.

Neo Performance Materials Price Performance

Shares of TSE:NEO traded down C$1.98 during midday trading on Wednesday, hitting C$37.23. The company's stock had a trading volume of 395,202 shares, compared to its average volume of 288,473. The company has a market cap of C$1.71 billion, a P/E ratio of -155.12 and a beta of 1.44. Neo Performance Materials has a 12-month low of C$15.31 and a 12-month high of C$47.19. The business's 50 day simple moving average is C$36.61 and its 200 day simple moving average is C$28.95. The company has a debt-to-equity ratio of 41.75, a quick ratio of 1.92 and a current ratio of 1.76.

Neo Performance Materials (TSE:NEO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported C$0.73 earnings per share (EPS) for the quarter. The company had revenue of C$292.32 million during the quarter. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. On average, analysts forecast that Neo Performance Materials will post 0.6753356 EPS for the current year.

Neo Performance Materials Company Profile

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo's advanced industrial materials - magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys - are critical to the performance of many everyday products and emerging technologies. Neo's products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.

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