EcoSynthetix (TSE:ECO) had its price target cut by Canaccord Genuity from C$7.75 to C$5.50 in a research report sent to investors on Friday morning, StockRatingsNetwork.com reports. The firm currently has a buy rating on the stock.
Canaccord Genuity has also modified their ratings on a number of other stocks in the few days. The firm lowered its price target on shares of Barrick Gold Corp from $21.50 to $20.50. They have a hold rating on that stock. Also, Canaccord Genuity downgraded shares of Kraft Foods from a buy rating to a hold rating. Finally, Canaccord Genuity raised its price target on shares of Cascade Microtech from $9.00 to $12.00. They have a buy rating on that stock.
EcoSynthetix (TSE:ECO) traded up 3.45% during mid-day trading on Friday, hitting $3.00. The stock had a trading volume of 5,850 shares. EcoSynthetix has a one year low of $2.66 and a one year high of $5.51. The stock’s 50-day moving average is $3.49 and its 200-day moving average is $4.02.
Separately, analysts at RBC Capital downgraded shares of EcoSynthetix from an outperform rating to a sector perform rating in a research note to investors on Friday, August 9th. They now have a C$4.50 price target on the stock, down previously from C$5.00.
EcoSynthetix applies Green Chemistry to transform renewable resources into high performance biomaterials that replace petroleum based chemicals.
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