Toromont Industries (OTCMKTS:TMTNF) Lifted to “Outperform” at Scotiabank

Scotiabank upgraded shares of Toromont Industries (OTCMKTS:TMTNF) from a sector perform rating to an outperform rating in a report released on Monday morning, The Fly reports. They currently have $115.00 price target on the stock, up from their previous price target of $100.00. The analysts noted that the move was a valuation call.

Several other research firms also recently weighed in on TMTNF. TD Securities lifted their target price on shares of Toromont Industries from $95.00 to $98.00 and gave the stock a hold rating in a research report on Tuesday, February 16th. CIBC lifted their target price on shares of Toromont Industries from $92.00 to $95.00 and gave the stock a neutral rating in a research report on Friday, February 12th. Royal Bank of Canada initiated coverage on shares of Toromont Industries in a research report on Tuesday, January 12th. They issued an outperform rating on the stock. BMO Capital Markets lifted their target price on shares of Toromont Industries from $95.00 to $96.00 and gave the stock a market perform rating in a research report on Friday, February 12th. Finally, Canaccord Genuity lifted their target price on shares of Toromont Industries from $96.00 to $99.00 and gave the stock a buy rating in a research report on Friday, February 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $97.57.

Shares of TMTNF opened at $78.46 on Monday. The firm’s 50 day moving average is $73.34 and its 200-day moving average is $68.64. Toromont Industries has a 12-month low of $43.64 and a 12-month high of $80.09.

Toromont Industries Company Profile

Toromont Industries Ltd. is engaged in the distribution of construction equipment, power systems, and refrigeration systems. It operates through the Equipment Group and CIMCO segments. The Equipment Group segment comprises of Toromont CAT, Battlefield, Sitech, and AgWest. The CIMCO segment relates in the design, engineering, fabrication, installation, and after-sale support of refrigeration systems in industrial and recreational markets.

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Analyst Recommendations for Toromont Industries (OTCMKTS:TMTNF)

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