Element Fleet Management (EFN) Receives a Buy from National Bank


Element Fleet Management (TSX: EFN), the Financial sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Jaeme Gloyn from National Bank rated Element Fleet Management (TSX: EFN) a Buy, setting a C$9.50 price target.

According to TipRanks.com, Gloyn is ranked #2728 out of 4886 analysts.

Currently, the analyst consensus on Element Fleet Management is a Strong Buy with an average price target of C$9.81, which is a 18.9% upside from current levels. In a report issued on October 12, TD Securities also upgraded the stock to Buy with a C$10 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 Friday at C$8.25.

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