CIBC Forecasts Strong Price Appreciation for Superior Plus (TSE:SPB) Stock

Superior Plus (TSE:SPB) had its price objective hoisted by CIBC from C$9.00 to C$9.50 in a report issued on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts have also weighed in on SPB. National Bankshares increased their target price on shares of Superior Plus from C$6.50 to C$7.50 and gave the stock a “sector perform” rating in a research note on Thursday. BMO Capital Markets raised their price target on Superior Plus from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday. ATB Capital boosted their price objective on Superior Plus from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Thursday. Raymond James raised Superior Plus from a “hold” rating to a “moderate buy” rating in a research note on Friday, February 28th. Finally, TD Securities lifted their target price on Superior Plus from C$7.50 to C$9.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$9.80.

Superior Plus Price Performance

Superior Plus stock opened at C$7.02 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35. The stock has a market cap of C$1.18 billion, a P/E ratio of 25.81 and a beta of 0.76. The company has a 50-day moving average price of C$6.37 and a 200 day moving average price of C$6.66. Superior Plus has a 12-month low of C$5.15 and a 12-month high of C$9.82.

Superior Plus Company Profile

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline.