Toromont Industries (TIH) Given “Neutral” Rating at Scotiabank

Toromont Industries (TSE:TIH)‘s stock had its “neutral” rating reissued by analysts at Scotiabank in a note issued to investors on Wednesday. They presently have a C$64.00 price objective on the stock. Scotiabank’s target price indicates a potential upside of 6.99% from the stock’s previous close.

A number of other research firms have also recently commented on TIH. Royal Bank of Canada upped their price objective on Toromont Industries from C$60.00 to C$65.00 and gave the company a “sector perform” rating in a report on Thursday, July 26th. Raymond James upped their price objective on Toromont Industries from C$67.00 to C$71.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. National Bank Financial upped their price objective on Toromont Industries from C$63.00 to C$68.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. TD Securities upped their price objective on Toromont Industries from C$67.00 to C$70.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Finally, CIBC upped their price objective on Toromont Industries from C$61.00 to C$64.00 in a report on Thursday, July 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$66.25.

Shares of TIH stock traded down C$0.18 during trading hours on Wednesday, reaching C$59.82. The company had a trading volume of 346,913 shares, compared to its average volume of 128,110. Toromont Industries has a 12-month low of C$46.24 and a 12-month high of C$68.11.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Analyst Recommendations for Toromont Industries (TSE:TIH)

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