TD Securities Increases K-Bro Linen (TSE:KBL) Price Target to C$55.00

Key Points

• TD Securities has increased the price target for K-Bro Linen (TSE:KBL) from C$50.00 to C$55.00, suggesting a potential upside of 40.66% from the stock's previous close.
• Other analysts have also raised their targets, with Stifel Nicolaus lifting theirs to C$50.00 and Raymond James increasing theirs to C$48.00.
• K-Bro Linen's stock rose 6.7% on the day, trading at C$39.10 with a market capitalization of C$410.27 million.

K-Bro Linen (TSE:KBL - Get Free Report) had its price objective boosted by equities researchers at TD Securities from C$50.00 to C$55.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' price target would indicate a potential upside of 46.82% from the company's current price.

A number of other research firms have also recently weighed in on KBL. Stifel Nicolaus raised their price target on shares of K-Bro Linen from C$46.00 to C$50.00 in a report on Friday, June 13th. Raymond James Financial raised their price target on shares of K-Bro Linen from C$45.00 to C$48.00 and gave the company an "outperform" rating in a report on Tuesday, June 3rd. Finally, Cormark cut shares of K-Bro Linen from a "moderate buy" rating to a "hold" rating in a report on Wednesday, June 4th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$51.25.

K-Bro Linen Stock Down 1.8%

K-Bro Linen stock traded down C$0.69 during midday trading on Friday, hitting C$37.46. 15,612 shares of the company's stock were exchanged, compared to its average volume of 16,450. The company has a debt-to-equity ratio of 102.23, a quick ratio of 0.87 and a current ratio of 2.08. K-Bro Linen has a 12 month low of C$32.03 and a 12 month high of C$40.03. The firm has a 50-day moving average of C$34.88 and a two-hundred day moving average of C$34.81. The company has a market cap of C$393.07 million, a PE ratio of 20.96, a P/E/G ratio of 3.50 and a beta of 1.08.

K-Bro Linen Company Profile

K-Bro Linen Inc is a healthcare and hospitality laundry and linen processor in Canada. It operates in major cities across Canada, and has two distribution centers, providing management services and laundry processing of hospitality, healthcare, and specialty linens. The company provides vital products and services that help people heal, travel, live, and play.