CIBC Forecasts Strong Price Appreciation for Converge Technology Solutions (TSE:CTS) Stock

Converge Technology Solutions (TSE:CTS) had its price objective upped by stock analysts at CIBC from C$5.50 to C$6.00 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 0.67% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group lifted their price objective on Converge Technology Solutions from C$153.00 to C$154.00 and gave the company a “hold” rating in a report on Friday, March 7th. Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. Desjardins downgraded shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and upped their price target for the stock from C$5.00 to C$5.50 in a report on Friday, March 7th. Ventum Financial downgraded Converge Technology Solutions from a “buy” rating to a “tender” rating and dropped their price objective for the stock from C$6.00 to C$5.50 in a research report on Monday, February 10th. Finally, Jefferies Financial Group cut their target price 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$16.63.

Converge Technology Solutions Trading Down 1.2 %

Shares of Converge Technology Solutions stock opened at C$5.96 on Thursday. 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 debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. The firm has a 50-day moving average of C$5.12 and a 200-day moving average of C$4.20. The stock has a market cap of C$1.12 billion, a PE ratio of -7.15, a PEG ratio of 0.14 and a beta of 1.81.

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.