CIBC Issues Positive Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target increased by CIBC from C$87.00 to C$88.00 in a research report report published on Thursday morning,BayStreet.CA reports.

Several other brokerages have also recently commented on LNR. TD Securities upped their target price on shares of Linamar from C$85.00 to C$96.00 in a research report on Thursday. Raymond James Financial lifted their price objective on Linamar from C$70.00 to C$80.00 and gave the stock a “market perform” rating in a research note on Thursday, August 14th. BMO Capital Markets upped their price objective on Linamar from C$75.00 to C$80.00 in a report on Thursday, August 14th. Scotiabank raised their target price on Linamar from C$80.00 to C$83.00 in a report on Friday, October 17th. Finally, Cibc World Mkts raised Linamar from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$85.40.

Linamar Trading Up 5.3%

LNR opened at C$79.52 on Thursday. The firm has a 50 day simple moving average of C$75.11 and a 200 day simple moving average of C$68.66. Linamar has a fifty-two week low of C$43.84 and a fifty-two week high of C$80.56. The company has a market cap of C$4.76 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.65. The company has a debt-to-equity ratio of 42.84, a current ratio of 1.79 and a quick ratio of 0.75.

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.