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

Converge Technology Solutions (TSE:CTS) had its price target lifted by TD Securities from C$5.50 to C$6.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. They currently have a sell rating on the stock.

A number of other research firms also recently issued reports on CTS. CIBC lifted their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th. Ventum Financial cut Converge Technology Solutions from a “buy” rating to a “tender” rating and reduced their price objective for the stock from C$6.00 to C$5.50 in a report on Monday, February 10th. Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the stock a “hold” rating in a research report on Thursday, January 16th. Jefferies Financial Group dropped their price target on Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Finally, Scotiabank boosted their price objective on shares of Converge Technology Solutions from C$5.50 to C$6.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$16.63.

Converge Technology Solutions Stock Performance

Shares of CTS opened at C$5.96 on Thursday. The company has a market capitalization of C$1.12 billion, a PE ratio of -7.15, a P/E/G ratio of 0.14 and a beta of 1.81. 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 50-day simple moving average of C$5.12 and a 200-day simple moving average of C$4.20. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78.

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.