Scotiabank Issues Positive Forecast for Linamar (TSE:LNR) Stock Price

Key Points

• Scotiabank has raised its price target for Linamar (TSE:LNR) stock from C$80.00 to C$83.00, indicating a potential upside of 15.65% from its current price.
• Multiple financial institutions have recently upgraded Linamar’s stock ratings, with TD Securities setting a target price of C$85.00 and CIBC raising theirs to C$87.00, reflecting strong market confidence.
• As of the last trading session, Linamar’s stock was trading at C$71.77, having a market capitalization of C$4.29 billion and a price-to-earnings ratio of 20.33.

Linamar (TSE:LNR - Get Free Report) had its price target increased by Scotiabank from C$80.00 to C$83.00 in a report issued on Friday,BayStreet.CA reports. Scotiabank's price target points to a potential upside of 15.65% from the company's current price.

LNR has been the subject of several other reports. TD Securities boosted their target price on shares of Linamar from C$78.00 to C$85.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Raymond James Financial raised their target price on Linamar from C$70.00 to C$80.00 and gave the company a "market perform" rating in a report on Thursday, August 14th. BMO Capital Markets raised their target price on Linamar from C$75.00 to C$80.00 in a report on Thursday, August 14th. Cibc World Mkts raised Linamar from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Finally, CIBC upgraded Linamar from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from C$77.00 to C$87.00 in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$83.00.

Linamar Price Performance

LNR traded up C$1.61 on Friday, hitting C$71.77. 112,662 shares of the stock were exchanged, compared to its average volume of 129,443. Linamar has a 12 month low of C$43.84 and a 12 month high of C$78.02. The business has a 50-day moving average of C$74.36 and a two-hundred day moving average of C$64.80. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75. The firm has a market capitalization of C$4.29 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.12 and a beta of 1.66.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company's Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications.

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