Scotiabank Raises Converge Technology Solutions (TSE:CTS) Price Target to C$6.00

Converge Technology Solutions (TSE:CTS) had its price target raised by Scotiabank from C$5.50 to C$6.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on CTS. Jefferies Financial Group reduced their price target on shares of Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Ventum Financial downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and decreased their target price for the company from C$6.00 to C$5.50 in a research note on Monday, February 10th. Cormark raised Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Canaccord Genuity Group raised their price objective on Converge Technology Solutions from C$153.00 to C$154.00 and gave the company a “hold” rating in a research report on Friday, March 7th. Finally, Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the stock a “hold” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$16.63.

Converge Technology Solutions Stock Performance

TSE:CTS opened at C$5.96 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78. The firm’s fifty day simple moving average is C$5.12 and its 200 day simple moving average is C$4.20. The stock has a market cap of C$1.12 billion, a P/E ratio of -7.15, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$6.06.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.