A Wall Street analyst has provided a review for the Conglomerates company yesterday, but retained the same rating on the stock. Linamar (LNR) received a Buy rating from CIBC’s analyst Kevin Chiang, with a C$65 price target.
According to TipRanks.com, Chiang is a 5-star analyst with an average return of 10.5% and a 63.4% success rate. Chiang covers the Services sector, focusing on stocks such as WestJet Airlines Ltd, Canadian Railway, and Canadian Pacific.
Currently, the analyst consensus on Linamar is a Moderate Buy with an average price target of C$65.
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 Friday at C$50.28.
