Mainstreet Equity (TSE:MEQ) Reaches New 52-Week High Following Analyst Upgrade

Shares of Mainstreet Equity Corp. (TSE:MEQ) reached a new 52-week high during trading on Thursday after TD Securities raised their price target on the stock from C$62.00 to C$72.00. TD Securities currently has a hold rating on the stock. Mainstreet Equity traded as high as C$75.00 and last traded at C$75.00, with a volume of 238 shares. The stock had previously closed at C$72.57.

Separately, Laurentian raised their price target on shares of Mainstreet Equity from C$68.00 to C$81.00 in a research note on Tuesday.

The company has a market cap of $703.56 million and a PE ratio of 10.94. The company’s 50 day moving average is C$67.84 and its 200 day moving average is C$60.96. The company has a current ratio of 0.05, a quick ratio of 0.02 and a debt-to-equity ratio of 140.42.

Mainstreet Equity (TSE:MEQ) last posted its quarterly earnings results on Monday, December 9th. The company reported C$3.11 EPS for the quarter. The company had revenue of C$36.62 million during the quarter, compared to analysts’ expectations of C$35.49 million. Analysts expect that Mainstreet Equity Corp. will post 2.9000001 EPS for the current year.

About Mainstreet Equity (TSE:MEQ)

Mainstreet Equity Corp., a real estate corporation, engages in the acquisition, divestiture, value-enhancement, and management of multi-family residential properties primarily in Western Canada. The company owns a portfolio of mid-market rental apartment buildings in Vancouver lower mainland, Calgary and Southern Alberta, Edmonton, Regina, and Saskatoon.

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