Toromont Industries (TIH) PT Lowered to C$62.00

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Toromont Industries (TSE:TIH) had its price target dropped by research analysts at Royal Bank of Canada from C$64.00 to C$62.00 in a note issued to investors on Wednesday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 3.59% from the stock’s current price.

TIH has been the topic of several other research reports. National Bank Financial upped their target price on shares of Toromont Industries from C$63.00 to C$68.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Raymond James upped their target price on shares of Toromont Industries from C$67.00 to C$71.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. BMO Capital Markets set a C$72.00 target price on shares of Toromont Industries and gave the company an “outperform” rating in a research note on Wednesday, July 25th. TD Securities upped their target price on shares of Toromont Industries from C$67.00 to C$70.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Finally, CIBC upped their target price on shares of Toromont Industries from C$61.00 to C$64.00 in a research note on Thursday, July 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of C$65.75.

TIH traded down C$0.15 during midday trading on Wednesday, hitting C$59.85. 217,927 shares of the company traded hands, compared to its average volume of 127,493. Toromont Industries has a 52 week low of C$46.24 and a 52 week high of C$68.11.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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Analyst Recommendations for Toromont Industries (TSE:TIH)

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