Scotiabank Raises Finning International (TSE:FTT) Price Target to C$71.00

Key Points

• Scotiabank has raised its price target for Finning International (TSE:FTT) from C$64.00 to C$71.00, suggesting a potential upside of 2.51% from the stock's previous close.
• Other analysts have also increased their price targets, with TD Securities raising their target to C$81.00, indicating strong market confidence in Finning International.
• Finning International operates as a dealer and distributor of Caterpillar machinery, serving various industries including mining, construction, and forestry.

Finning International (TSE:FTT - Get Free Report) had its price target hoisted by investment analysts at Scotiabank from C$64.00 to C$71.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank's price target would indicate a potential upside of 2.51% from the stock's previous close.

Several other research firms have also recently issued reports on FTT. TD Securities increased their target price on shares of Finning International from C$69.00 to C$81.00 in a research note on Friday. BMO Capital Markets upped their price target on shares of Finning International from C$57.00 to C$66.00 in a report on Tuesday, July 22nd. Raymond James Financial boosted their target price on Finning International from C$56.00 to C$68.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their target price on shares of Finning International from C$61.00 to C$67.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Finning International presently has an average rating of "Moderate Buy" and a consensus price target of C$62.89.

Finning International Price Performance

Shares of FTT traded down C$0.41 during midday trading on Friday, hitting C$69.26. 603,338 shares of the company traded hands, compared to its average volume of 488,425. The stock has a 50-day moving average of C$60.74 and a 200-day moving average of C$53.90. Finning International has a one year low of C$34.59 and a one year high of C$70.50. The firm has a market cap of C$9.18 billion, a P/E ratio of 14.86, a PEG ratio of 0.56 and a beta of 1.05. The company has a debt-to-equity ratio of 98.14, a current ratio of 1.65 and a quick ratio of 0.59.

About Finning International

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.