In a new note to investors today, an analyst has provided a rating update for the Financial sector company, Element Fleet Management (TSX: EFN). The company received a Buy rating from CIBC’s analyst Paul Holden, with a C$10 price target.
According to TipRanks.com, Holden is ranked #1774 out of 4869 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Element Fleet Management with a C$8.83 average price target.
Based on Element Fleet Management’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$79.1 million. In comparison, last year the company had a net profit of C$37.09 million.
Element Fleet Management Corp. engages in the provision of financial services. It operates through the following segments: Commercial and Vendor Finance, Aviation Finance, Fleet Management and Rail Finance. The Commercial and Vendor Finance segment is its vertical servicing the mid-ticket finance segment of the equipment finance industry.
The company’s shares closed on Tuesday at C$7.21.
