TD Securities Trims Converge Technology Solutions (TSE:CTS) Target Price to C$8.50

Converge Technology Solutions (TSE:CTS – Get Rating) had its price target lowered by TD Securities from C$12.00 to C$8.50 in a research note issued to investors on Thursday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

CTS has been the subject of a number of other research reports. Desjardins reiterated a buy rating on shares of Converge Technology Solutions in a research report on Wednesday, March 23rd. National Bank Financial restated an outperfrom under weight rating on shares of Converge Technology Solutions in a research note on Tuesday, April 26th. National Bankshares set a C$14.00 price target on shares of Converge Technology Solutions and gave the stock an outperform rating in a research note on Wednesday, April 27th. CIBC dropped their price target on shares of Converge Technology Solutions from C$12.50 to C$11.00 in a research note on Monday, January 31st. Finally, Raymond James set a C$12.50 price target on shares of Converge Technology Solutions and gave the stock an outperform rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$13.06.

CTS stock opened at C$6.15 on Thursday. Converge Technology Solutions has a 12-month low of C$5.88 and a 12-month high of C$13.09. The company has a quick ratio of 1.12, a current ratio of 1.32 and a debt-to-equity ratio of 2.93. The company has a market cap of C$1.32 billion and a price-to-earnings ratio of 76.88. The company has a 50 day moving average of C$7.96 and a two-hundred day moving average of C$8.13.

Converge Technology Solutions Company Profile (Get Rating)

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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