Superior Plus (TSE:SPB) Given New C$10.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial has lowered its price target for Superior Plus from C$10.50 to C$10.00, while maintaining an "outperform" rating, suggesting a potential upside of 47.49% from the current stock price.
• Other analysts have also adjusted their price targets, with Desjardins setting it to C$9.75 and BMO Capital Markets to C$8.00, indicating a general caution among market analysts.
• Superior Plus shares rose 2.1% to reach C$6.78, with a current market capitalization of C$1.14 billion and a price-to-earnings ratio of 24.93.

Superior Plus (TSE:SPB - Get Free Report) had its target price reduced by Raymond James Financial from C$10.50 to C$10.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's price objective would indicate a potential upside of 47.49% from the company's current price.

Several other equities research analysts have also weighed in on SPB. Desjardins dropped their price objective on shares of Superior Plus from C$10.50 to C$9.75 and set a "buy" rating on the stock in a research note on Wednesday. BMO Capital Markets dropped their price objective on shares of Superior Plus from C$10.00 to C$8.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, TD Securities dropped their price objective on shares of Superior Plus from C$8.50 to C$8.00 and set a "hold" rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$9.63.

Superior Plus Stock Up 2.1%

Shares of Superior Plus stock traded up C$0.14 during trading on Thursday, reaching C$6.78. The company had a trading volume of 714,899 shares, compared to its average volume of 846,981. The company has a market cap of C$1.14 billion, a price-to-earnings ratio of 24.93 and a beta of 0.76. The firm's fifty day moving average is C$7.63 and its 200-day moving average is C$7.04. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67. Superior Plus has a fifty-two week low of C$5.15 and a fifty-two week high of C$8.34.

About Superior Plus

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline.

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