Canaccord Genuity Trims Toromont Industries (TIH) Target Price to C$64.00

Toromont Industries (TSE:TIH) had its target price lowered by equities researchers at Canaccord Genuity from C$70.00 to C$64.00 in a research report issued on Wednesday. Canaccord Genuity’s price target would indicate a potential upside of 6.93% from the stock’s current price.

A number of other research firms have also recently weighed in on TIH. Royal Bank of Canada increased their price target on Toromont Industries from C$60.00 to C$65.00 and gave the stock a “sector perform” rating in a report on Thursday, July 26th. Raymond James increased their price target on Toromont Industries from C$67.00 to C$71.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. National Bank Financial increased their price target on Toromont Industries from C$63.00 to C$68.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. TD Securities increased their price target on Toromont Industries from C$67.00 to C$70.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Finally, CIBC increased their price target on Toromont Industries from C$61.00 to C$64.00 in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$65.75.

Shares of TSE TIH traded down C$0.15 during mid-day trading on Wednesday, reaching C$59.85. 217,927 shares of the company’s stock were exchanged, compared to its average volume of 127,493. Toromont Industries has a 52-week low of C$46.24 and a 52-week high of C$68.11.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Analyst Recommendations for Toromont Industries (TSE:TIH)

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