Neo Performance Materials (TSE:NEO) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price target on Neo Performance Materials from C$43.00 to C$60.00, implying about 43.5% upside from the prior close.
• Other analysts have also turned more bullish, with Stifel Nicolaus and ATB Cormark lifting their targets; the stock now carries a consensus Buy rating and an average target of C$50.50.
• Neo Performance Materials last traded flat at C$41.81 after reporting quarterly EPS of C$0.47 on revenue of C$215.44 million, while analysts expect full-year EPS of about 0.675.

Neo Performance Materials (TSE:NEO - Get Free Report) had its price target raised by research analysts at BMO Capital Markets from C$43.00 to C$60.00 in a note issued to investors on Monday,BayStreet.CA reports. BMO Capital Markets' target price indicates a potential upside of 43.51% from the company's previous close.

A number of other equities research analysts have also recently issued reports on NEO. Stifel Nicolaus increased their target price on shares of Neo Performance Materials from C$26.00 to C$38.00 in a research report on Wednesday, May 13th. ATB Cormark Capital Markets boosted their price target on shares of Neo Performance Materials from C$43.00 to C$53.50 and gave the company an "outperform" rating in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Neo Performance Materials currently has a consensus rating of "Buy" and an average target price of C$50.50.

Neo Performance Materials Stock Performance

NEO stock remained flat at C$41.81 during trading on Monday. The company had a trading volume of 225,717 shares, compared to its average volume of 287,063. The firm's fifty day moving average is C$33.35 and its two-hundred day moving average is C$25.71. Neo Performance Materials has a twelve month low of C$15.23 and a twelve month high of C$43.03. The stock has a market capitalization of C$1.92 billion, a P/E ratio of -174.21 and a beta of 1.44. The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75.

Neo Performance Materials (TSE:NEO - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative return on equity of 2.63% and a negative net margin of 2.03%.The firm had revenue of C$215.44 million during the quarter. On average, analysts expect that Neo Performance Materials will post 0.6753356 earnings per share 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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