Canaccord Genuity Group Raises Toromont Industries (OTCMKTS:TMTNF) Price Target to C$130.00

Toromont Industries (OTCMKTS:TMTNFGet Rating) had its price objective upped by Canaccord Genuity Group from C$123.00 to C$130.00 in a research report sent to investors on Friday, The Fly reports.

Other research analysts have also recently issued reports about the company. BMO Capital Markets raised their target price on Toromont Industries from C$126.00 to C$130.00 in a research report on Friday. Maxim Group upped their target price on shares of Toromont Industries from C$125.00 to C$126.00 and gave the company an outperform rating in a research note on Wednesday, January 5th. TD Securities increased their price target on shares of Toromont Industries from C$125.00 to C$130.00 in a research report on Friday. Scotiabank upped their price objective on Toromont Industries from C$125.00 to C$126.00 in a research note on Friday. Finally, Royal Bank of Canada raised their target price on Toromont Industries from C$126.00 to C$129.00 in a research report on Friday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $124.89.

Toromont Industries stock opened at $93.86 on Friday. The business has a 50 day moving average price of $91.18 and a two-hundred day moving average price of $88.65. Toromont Industries has a 12 month low of $79.67 and a 12 month high of $96.02.

About Toromont Industries (Get Rating)

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 engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various 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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