Scotiabank Forecasts Strong Price Appreciation for Linamar (TSE:LNR) Stock

Linamar (TSE:LNR) had its price target raised by equities researchers at Scotiabank from C$80.00 to C$83.00 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 15.65% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Raymond James Financial upped their price objective on shares of Linamar from C$70.00 to C$80.00 and gave the stock a “market perform” rating in a report on Thursday, August 14th. BMO Capital Markets upped their price objective on shares of Linamar from C$75.00 to C$80.00 in a report on Thursday, August 14th. TD Securities upped their price objective on shares of Linamar from C$78.00 to C$85.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Cibc World Mkts raised shares of Linamar from a “hold” rating to a “strong-buy” rating in a report on Monday, August 25th. Finally, CIBC raised shares of Linamar from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from C$77.00 to C$87.00 in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$83.00.

Linamar Stock Performance

Shares of LNR opened at C$71.77 on Friday. The company’s fifty day moving average is C$74.43 and its 200-day moving average is C$65.04. Linamar has a 12 month low of C$43.84 and a 12 month high of C$78.02. The firm has a market cap of C$4.29 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.12 and a beta of 1.66. The company has a quick ratio of 0.75, a current ratio of 1.79 and a debt-to-equity ratio of 42.84.

About Linamar

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications.