TD Forecasts Strong Price Appreciation for PRO Real Estate Investment Trust (CVE:PRV.UN) Stock

PRO Real Estate Investment Trust (CVE:PRV.UN) had its price target increased by equities researchers at TD from C$7.00 to C$7.50 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD’s target price would suggest a potential upside of 226.09% from the company’s current price.

Several other brokerages have also recently issued reports on PRV.UN. Desjardins boosted their price objective on PRO Real Estate Investment Trust from C$6.75 to C$7.50 and gave the company a “buy” rating in a report on Friday. Canadian Imperial Bank of Commerce lowered PRO Real Estate Investment Trust from an “outperformer” rating to a “neutral” rating and upped their price objective for the stock from C$6.75 to C$7.00 in a research report on Friday, May 15th. Raymond James Financial dropped their price objective on shares of PRO Real Estate Investment Trust from C$7.50 to C$7.25 and set a “market perform” rating on the stock in a research note on Friday. Finally, Royal Bank Of Canada boosted their target price on shares of PRO Real Estate Investment Trust from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$7.07.

PRO Real Estate Investment Trust Stock Up 0.4%

Shares of CVE:PRV.UN traded up C$0.01 during midday trading on Friday, reaching C$2.30. The company’s stock had a trading volume of 80,531 shares, compared to its average volume of 103,855. The stock has a fifty day moving average of C$2.30 and a 200 day moving average of C$2.30. PRO Real Estate Investment Trust has a twelve month low of C$1.80 and a twelve month high of C$2.45.

About PRO Real Estate Investment Trust

PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 84 commercial properties across Canada representing over 3.7 million square feet of gross leasable area. Established in 2013, PROREIT is mainly focused on strong secondary markets in Quebec, Atlantic Canada and Ontario, with selective exposure in Western Canada.