Scotiabank Issues Positive Forecast for Onex (TSE:ONEX) Stock Price

Key Points

• Scotiabank has raised its target price for Onex (TSE:ONEX) stock from C$150.00 to C$153.00, suggesting a potential upside of 27.22% from the previous close.
• The stock has an average rating of "Moderate Buy", with several brokerages issuing varying price objectives, including Royal Bank of Canada at C$141.00 and TD Securities at C$148.00.
• Onex shares traded up 1.5% to C$120.26, with a market capitalization of C$8.25 billion and a debt-to-equity ratio of 49.85.

Onex (TSE:ONEX - Get Free Report) had its target price raised by investment analysts at Scotiabank from C$150.00 to C$153.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's target price would indicate a potential upside of 27.22% from the company's previous close.

Several other brokerages also recently issued reports on ONEX. Royal Bank Of Canada set a C$141.00 price objective on shares of Onex and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. TD Securities upped their price objective on shares of Onex from C$142.00 to C$148.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Onex has an average rating of "Moderate Buy" and a consensus price target of C$143.00.

Onex Trading Up 1.5%

Shares of ONEX traded up C$1.81 on Friday, hitting C$120.26. 36,228 shares of the stock traded hands, compared to its average volume of 141,341. The company has a quick ratio of 2.41, a current ratio of 17.51 and a debt-to-equity ratio of 49.85. The firm has a market capitalization of C$8.25 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.47 and a beta of 1.16. The stock's 50 day moving average is C$119.36 and its two-hundred day moving average is C$110.05. Onex has a 1 year low of C$86.64 and a 1 year high of C$126.51.

Onex Company Profile

Onex Corporation is a private equity investor and asset management firm. The company operates in two main segments: investing, which includes private equity, private credit, and direct investments; and asset and wealth management, which manages pension plans, sovereign wealth funds, insurance companies, and family offices.

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