TD Securities Forecasts Strong Price Appreciation for Transcontinental (TSE:TCL.A) Stock

Key Points

• TD Securities raised its price target for Transcontinental (TSE:TCL.A) from C$26.00 to C$27.00, suggesting a potential upside of 31.39% from the stock's previous close.
• Overall, Transcontinental has an average rating of "Moderate Buy", with four analysts giving it a Buy rating and two issuing a Hold rating.
• On Monday, Transcontinental's stock rose by 0.9%, reaching a price of C$20.55, while trading volume was lower than its average.

Transcontinental (TSE:TCL.A - Get Free Report) had its target price boosted by stock analysts at TD Securities from C$26.00 to C$27.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' target price suggests a potential upside of 35.75% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada set a C$25.00 target price on shares of Transcontinental and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. National Bankshares upped their target price on shares of Transcontinental from C$23.00 to C$24.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Cormark dropped their target price on shares of Transcontinental from C$27.00 to C$26.00 in a report on Monday, September 8th. Scotiabank lowered Transcontinental from an "outperform" rating to a "sector perform" rating and raised their price objective for the company from C$22.00 to C$23.25 in a research report on Friday, June 6th. Finally, BMO Capital Markets raised their price objective on Transcontinental from C$20.00 to C$23.00 in a research report on Friday, June 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Transcontinental presently has an average rating of "Moderate Buy" and an average target price of C$24.18.

Transcontinental Price Performance

Transcontinental stock traded down C$0.13 during mid-day trading on Monday, hitting C$19.89. The stock had a trading volume of 75,211 shares, compared to its average volume of 224,984. The firm has a market capitalization of C$1.66 billion, a P/E ratio of 9.52, a P/E/G ratio of 6.05 and a beta of 0.79. The company has a current ratio of 1.49, a quick ratio of 1.09 and a debt-to-equity ratio of 54.12. The firm's 50 day moving average is C$19.99 and its 200 day moving average is C$19.48. Transcontinental has a one year low of C$15.97 and a one year high of C$22.33.

About Transcontinental

Transcontinental, or TC Transcontinental, is a Canadian printer and flexible packaging provider that operates in three segments: packaging, printing, and other. Its packaging segment features the production of different plastic products geared toward consumer goods. Production plants specialize in extrusion, lamination, printing, and converting.