BMO Capital Markets Cuts Mullen Group (MTL) Price Target to C$18.00
Mullen Group (TSE:MTL) had its target price decreased by equities researchers at BMO Capital Markets from C$19.00 to C$18.00 in a note issued to investors on Friday. BMO Capital Markets’ price objective would suggest a potential upside of 25.44% from the company’s previous close.
Several other equities research analysts have also recently issued reports on MTL. Scotiabank cut Mullen Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$18.00 to C$17.50 in a report on Thursday, October 12th. National Bank Financial lowered their price objective on Mullen Group from C$18.75 to C$18.25 and set an “outperform” rating on the stock in a report on Thursday, October 26th. Canaccord Genuity lowered their price objective on Mullen Group from C$19.00 to C$18.00 in a report on Friday, October 27th. TD Securities restated a “hold” rating and set a C$18.00 target price on shares of Mullen Group in a report on Tuesday, October 31st. Finally, Industrial Alliance Securities lowered their target price on Mullen Group from C$20.00 to C$19.00 and set a “strong-buy” rating on the stock in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$16.97.
Shares of Mullen Group (TSE MTL) opened at C$14.35 on Friday. Mullen Group has a twelve month low of C$14.18 and a twelve month high of C$17.62. The stock has a market capitalization of $1,490.00, a PE ratio of 25.18 and a beta of 0.25.
About Mullen Group
Mullen Group Ltd is a Canada-based supplier of trucking and logistics services. It operates through two operating segments: Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment consists of over 10 Business Units, offering a range of truckload and less-than-truckload (LTL) general freight services to customers in Canada and the United States, such as transporting goods, including general freight; commodities, such as cable, pipe and steel; over-dimensional loads, such as heavy equipment and compressors, and dry bulk commodities, such as cement and frac sand.
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