CIBC Thinks Linamar’s Stock is Going to Recover
In a latest note to investors, a research analyst has provided a rating update for the Linamar (LNR). CIBC’s analyst Kevin Chiang reiterates their Buy rating on the shares today.
According to TipRanks.com, Chiang is a 5-star analyst with an average return of 8.7% and a 60.2% success rate. Chiang covers the Services sector, focusing on stocks such as WestJet Airlines Ltd, Canadian Railway, and Canadian Pacific.
Linamar has an analyst consensus of Moderate Buy, with a price target consensus of C$73.20.
Based on Linamar’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$113 million. In comparison, last year the company had a net profit of C$135 million.
Linamar Corp. is a diversified manufacturing company, which engages in engineered products powering vehicles, motion, work and lives. It operates through the following segments: Powertrain & Driveline, and Industrial.
The company’s shares closed on Monday at C$45.30, close to its 52-week low of C$43.03.