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

Converge Technology Solutions (TSE:CTS) had its target price increased by CIBC from C$5.50 to C$6.00 in a research report report published on Thursday,BayStreet.CA reports.

A number of other brokerages also recently weighed in on CTS. Stifel Canada raised shares of Converge Technology Solutions to a “strong-buy” rating in a report on Wednesday, January 15th. Canaccord Genuity Group increased their target price on shares of Converge Technology Solutions from C$153.00 to C$154.00 and gave the company a “hold” rating in a research note on Friday, March 7th. Jefferies Financial Group decreased their target price on 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. Stifel Nicolaus set a C$4.00 price target on Converge Technology Solutions and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, TD Securities lifted their price objective on Converge Technology Solutions from C$5.50 to C$6.00 and gave the stock a “sell” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$16.63.

Converge Technology Solutions Stock Performance

Shares of TSE CTS opened at C$5.96 on Thursday. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. 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 company has a market cap 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 business’s 50 day moving average is C$5.12 and its two-hundred day moving average is C$4.20.

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.