In a new note to investors today, an analyst has provided a rating update for the NA sector company, Neo Performance Materials Inc (TSX: NEO). Analyst Yuri Lynk from Canaccord Genuity remains bullish on the stock and has a C$24 price target.
Lynk commented:
“We are reiterating our BUY rating and C$24.00 one-year target price on Neo shares following better-than-expected Q2/2018 results.”
Lynk has an average return of 3.3% when recommending Neo Performance Materials Inc.
According to TipRanks.com, Lynk is ranked #548 out of 4847 analysts.
Currently, the analyst consensus on Neo Performance Materials Inc is a Strong Buy with an average price target of C$25, representing a 38.8% upside. In a report issued on August 2, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$26 price target.
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Neo Performance Materials Inc’s market cap is currently C$717.1M and has a P/E ratio of 23. The company has a Price to Book ratio of 1.31.
Neo Performance Materials, Inc. manufactures rare earth and rare metalbased functional materials. The company operates through the following business segments: Magnequench, Chemicals & Oxides, and Rare Metals. The Company was founded on September 12, 2017 and is headquartered in Toronto, Canada.
The company’s shares closed on Monday at C$18.01, close to its 52-week high of C$18.65.
