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

Converge Technology Solutions (TSE:CTS) had its price objective upped by Scotiabank from C$5.50 to C$6.00 in a report published on Wednesday morning,BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on the company. TD Securities upgraded Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Jefferies Financial Group cut their target price on Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating for the company in a research note on Friday, March 7th. CIBC lifted their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Monday, February 10th. Stifel Canada raised shares of Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Cormark upgraded shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$16.63.

Converge Technology Solutions Stock Performance

TSE CTS opened at C$5.96 on Wednesday. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. The company has a fifty day moving average of C$5.12 and a 200-day moving average of C$4.20. The company has a market capitalization of C$1.12 billion, a P/E ratio of -7.15, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96.

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.