Canadian Imperial Bank of Commerce Raises Mullen Group (TSE:MTL) Price Target to C$20.00

Mullen Group (TSE:MTL) had its price objective upped by equities research analysts at Canadian Imperial Bank of Commerce from C$18.00 to C$20.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 0.25% from the stock’s current price.

Several other research analysts also recently issued reports on MTL. Desjardins upped their target price on shares of Mullen Group from C$20.00 to C$23.00 and gave the stock a “buy” rating in a research note on Friday. Acumen Capital increased their price objective on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank increased their price objective on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Friday. Royal Bank Of Canada increased their price objective on shares of Mullen Group from C$17.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, National Bank Financial increased their price objective on shares of Mullen Group from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research report on Friday. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$20.67.

Mullen Group Trading Up 2.6%

Shares of TSE MTL opened at C$19.95 on Friday. The firm’s 50 day moving average price is C$17.29 and its 200-day moving average price is C$16.07. The company has a market cap of C$1.91 billion, a PE ratio of 19.95, a P/E/G ratio of 1.81 and a beta of 0.76. Mullen Group has a 52-week low of C$12.86 and a 52-week high of C$20.19. The company has a debt-to-equity ratio of 91.65, a quick ratio of 1.06 and a current ratio of 2.07.

Mullen Group (TSE:MTL) last issued its earnings results on Thursday, April 23rd. The company reported C$0.20 earnings per share (EPS) for the quarter. The firm had revenue of C$547.70 million for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%.

Key Stories Impacting Mullen Group

Here are the key news stories impacting Mullen Group this week:

• Positive Sentiment: National Bank Financial raised its price target to C$23.00 and gave an “outperform” rating — a meaningful upgrade implying ~15% upside from recent levels. BayStreet Article
• Positive Sentiment: Desjardins boosted its target to C$23.00 and set a “buy” rating, matching the highest new targets and reinforcing bullish analyst sentiment. BayStreet Article
• Positive Sentiment: Acumen Capital raised its target to C$22.00 and kept a “buy” rating, contributing to the cluster of buy-side re-ratings. BayStreet Article
• Positive Sentiment: Royal Bank of Canada lifted its target to C$21.00 and maintained an “outperform” call, adding institutional credibility to the upside case. BayStreet Article
• Neutral Sentiment: Scotiabank bumped its target to C$21.00 but kept a “sector perform” view — a modest endorsement that signals steady fundamentals rather than a strong upgrade. BayStreet Article
• Neutral Sentiment: CIBC raised its target to C$20.00 and kept a “neutral” rating, reflecting a small upside and a cautious stance despite the higher target. BayStreet Article TickerReport
• Negative Sentiment: Raymond James raised its target to C$18.00 but left a “market perform” rating; the new target sits below current levels, representing a near 10% downside and a more conservative view. BayStreet Article
• Neutral Sentiment: Mullen’s quarterly report (C$0.20 EPS, C$547.7M revenue) was published and followed by a conference call; the numbers are supportive but not transformational on their own. Press Release
• Neutral Sentiment: Media roundup highlighted Mullen as a small-cap to watch around earnings, increasing visibility but not necessarily changing fundamentals. Globe & Mail

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.