Finning International (TSE:FTT) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Finning International (TSE:FTT) had its price target upped by equities researchers at Canadian Imperial Bank of Commerce from C$84.00 to C$102.00 in a note issued to investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective indicates a potential upside of 14.74% from the company’s current price.

A number of other brokerages have also recently issued reports on FTT. Scotiabank boosted their target price on shares of Finning International from C$71.00 to C$85.00 in a report on Thursday, November 13th. TD Securities boosted their price objective on Finning International from C$88.00 to C$100.00 in a research note on Wednesday. Raymond James Financial increased their price objective on Finning International from C$68.00 to C$85.00 in a report on Thursday, November 13th. BMO Capital Markets lifted their target price on Finning International from C$76.00 to C$85.00 in a report on Thursday, November 13th. Finally, National Bankshares increased their price target on shares of Finning International from C$66.00 to C$72.00 and gave the stock a “sector perform” rating in a report on Monday, December 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Finning International currently has a consensus rating of “Moderate Buy” and an average target price of C$84.22.

Finning International Price Performance

FTT opened at C$88.90 on Friday. The company has a market capitalization of C$11.68 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 0.56 and a beta of 0.80. The company has a quick ratio of 0.59, a current ratio of 1.65 and a debt-to-equity ratio of 98.14. The firm has a 50-day moving average price of C$79.21 and a 200-day moving average price of C$69.89. Finning International has a twelve month low of C$34.59 and a twelve month high of C$89.85.

About Finning International

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.