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Linamar (LNR) was Downgraded to a Hold Rating at TD Securities


Shares of Linamar (LNR) were revisited by a Wall Street analyst today. TD Securities’ analyst Brian Morrison downgraded LNR to Hold , with a C$64 price target.

According to TipRanks.com, Morrison is ranked #1280 out of 4918 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Linamar with a C$75.75 average price target.

Based on Linamar’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$197 million. In comparison, last year the company had a net profit of C$107 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 Thursday at C$49.89.