CIBC Issues Pessimistic Forecast for PRO Real Estate Investment Trust (CVE:PRV.UN) Stock Price

PRO Real Estate Investment Trust (CVE:PRV.UN) had its target price lowered by stock analysts at CIBC from C$6.50 to C$5.75 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 150.00% from the company’s previous close.

A number of other brokerages have also weighed in on PRV.UN. National Bankshares upped their target price on PRO Real Estate Investment Trust from C$5.00 to C$5.50 and gave the stock a “sector perform” rating in a research note on Thursday. TD Securities upped their target price on PRO Real Estate Investment Trust from C$5.00 to C$5.50 and gave the stock a “hold” rating in a research note on Thursday. BMO Capital Markets set a C$5.00 target price on PRO Real Estate Investment Trust and gave the stock a “market perform” rating in a research note on Friday, April 25th. Finally, Raymond James upped their target price on PRO Real Estate Investment Trust from C$5.75 to C$6.00 and gave the stock an “outperform” rating in a research note on Thursday.

PRO Real Estate Investment Trust Stock Performance

Shares of CVE PRV.UN opened at C$2.30 on Thursday. The stock’s 50-day simple moving average is C$2.30 and its two-hundred day simple moving average is C$2.30. PRO Real Estate Investment Trust has a twelve month low of C$1.80 and a twelve month high of C$2.45.

About PRO Real Estate Investment Trust

PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 84 commercial properties across Canada representing over 3.7 million square feet of gross leasable area. Established in 2013, PROREIT is mainly focused on strong secondary markets in Quebec, Atlantic Canada and Ontario, with selective exposure in Western Canada.