The Financial sector company, Element Fleet Management (TSX: EFN), has received a rating update from a Wall Street analyst today. Analyst Tom Mackinnon from BMO Capital rated Element Fleet Management (TSX: EFN) a Buy, setting a C$10 price target.
According to TipRanks.com, Mackinnon is ranked #811 out of 4897 analysts.
Currently, the analyst consensus on Element Fleet Management is a Moderate Buy with an average price target of C$9, implying a 9.4% upside from current levels. In a report released today, Raymond James also maintained a Buy rating on the stock with a C$10.50 price target.
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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$67.18 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 Thursday at C$8.23.
