Mullen Group (MTL) News Today

Mullen Group Ltd. (TSE:MTL) is getting a lift today after a wave of analyst upgrades and higher price targets followed its latest quarterly results. The stock has been moving higher as investors react to improving earnings estimates, better-than-feared profitability, and several firms signaling more upside from current levels.

• Positive Sentiment: National Bank Financial raised its price target on Mullen Group to C$31 from C$23 and reiterated an outperform rating, suggesting meaningful upside versus the current share price. National Bank Financial price target increase
• Positive Sentiment: BMO Capital Markets lifted its target to C$32 from C$25, one of the highest targets in the group and a bullish sign for valuation expectations. BMO Capital Markets price target increase
• Positive Sentiment: Desjardins increased its target to C$30 from C$23 and kept a buy rating, reflecting continued confidence in Mullen Group’s outlook. Desjardins price target increase
• Positive Sentiment: Royal Bank of Canada also raised its target to C$30 from C$23, adding to the broader analyst optimism around the stock. RBC price target increase
• Positive Sentiment: Scotiabank boosted its target to C$29 from C$24 and increased FY2026 and FY2027 EPS estimates, indicating improved earnings expectations even though its formal rating remained Sector Perform. Scotiabank estimate and target update

Why it matters: Mullen Group’s latest quarter showed C$0.41 EPS on C$609.3 million in revenue, and management’s earnings call plus the earnings beat appear to have reinforced confidence that margins are improving and that future earnings can support a higher share price. Overall, the news flow is clearly supportive and helps explain why Mullen Group’s stock has been rising.