CIBC Lowers Mullen Group Ltd (MTL) Price Target to C$21.50
Mullen Group Ltd (TSE:MTL) had its price target decreased by CIBC from C$23.00 to C$21.50 in a research note issued on Friday. CIBC’s target price suggests a potential upside of 26.25% from the stock’s current price.
Several other brokerages also recently commented on MTL. Canaccord Genuity started coverage on shares of Mullen Group in a report on Wednesday, October 26th. They issued a “hold” rating and a C$20.50 price target for the company. TD Securities raised their price target on shares of Mullen Group from C$21.00 to C$24.00 and gave the company a “buy” rating in a report on Tuesday, December 13th. National Bank Financial raised their price target on shares of Mullen Group from C$21.50 to C$22.00 in a report on Friday, January 20th. Raymond James Financial, Inc. raised shares of Mullen Group from a “market perform” rating to an “outperform” rating in a report on Thursday, October 20th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$20.00 price target on shares of Mullen Group in a report on Friday, October 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of C$20.72.
Shares of Mullen Group (TSE:MTL) traded up 0.83% during mid-day trading on Friday, hitting $17.03. 332,030 shares of the company traded hands. Mullen Group has a 1-year low of $13.28 and a 1-year high of $20.32. The stock has a market capitalization of $1.77 billion and a PE ratio of 32.75. The firm’s 50 day moving average price is $18.82 and its 200-day moving average price is $17.82.
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In other Mullen Group news, Director Stephen H. Lockwood sold 59,300 shares of the firm’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of C$19.11, for a total value of C$1,133,223.00.
About Mullen Group
Mullen Group Ltd. is a supplier of trucking and logistics services in Canada. The Company provides a range of specialized transportation and related services to the oil and natural gas industry in western Canada. The Company operates in two segments: Trucking/Logistics and Oilfield Services. Its Trucking/Logistics segment offers a range of truckload freight services to customers in Canada and the United States.
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