TD Securities Lowers Superior Plus (TSE:SPB) Price Target to C$8.00

Key Points

• TD Securities has reduced its price target for Superior Plus (TSE:SPB) from C$8.50 to C$8.00, maintaining a "hold" rating, which suggests a potential upside of 20.30% from the last closing price.
• Other brokerages have also made adjustments, with Desjardins increasing their target to C$10.00 and BMO Capital Markets lowering theirs to C$8.00, while the stock is currently rated as "Moderate Buy" with an average target price of C$9.68.
• As of mid-day trading on Wednesday, Superior Plus stock declined by 2.6%, trading at C$6.65, with significant trading volume compared to its average.

Superior Plus (TSE:SPB - Get Free Report) had its price target dropped by research analysts at TD Securities from C$8.50 to C$8.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD Securities' price target would indicate a potential upside of 20.30% from the company's previous close.

A number of other brokerages have also commented on SPB. Desjardins increased their price objective on Superior Plus from C$9.25 to C$10.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. BMO Capital Markets lowered their price objective on Superior Plus from C$10.00 to C$8.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Raymond James Financial lowered their price objective on Superior Plus from C$11.50 to C$10.50 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Superior Plus currently has an average rating of "Moderate Buy" and an average target price of C$9.68.

Superior Plus Stock Down 2.6%

SPB stock traded down C$0.18 during mid-day trading on Wednesday, hitting C$6.65. The stock had a trading volume of 1,557,691 shares, compared to its average volume of 845,829. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35. Superior Plus has a 1-year low of C$5.15 and a 1-year high of C$8.34. The company has a fifty day moving average of C$7.65 and a 200 day moving average of C$7.04. The stock has a market capitalization of C$1.12 billion, a price-to-earnings ratio of 24.45 and a beta of 0.76.

Superior Plus Company Profile

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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