Mullen Group Ltd. (MTL) Receives a Hold from GMP FirstEnergy


A Wall Street analyst has provided a rating update for the Services sector company today, while remaining neutral on the stock. Mullen Group Ltd. (MTL) received a Hold rating from GMP FirstEnergy’s analyst Ian Gillies, with a C$13.50 price target.

According to TipRanks.com, Gillies ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.1% and a 30.6% success rate. Gillies covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Precision Drilling, and Inter Pipeline Ltd.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mullen Group Ltd. with a C$15.77 average price target, which is a 26.4% upside from current levels. In a report released yesterday, TD Securities also reiterated a Hold rating on the stock with a C$12.50 price target.

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Mullen Group Ltd.’s market cap is currently C$1.31B and has a P/E ratio of 29.8. The company has a Price to Book ratio of 1.32.

Mullen Group Ltd. provides freight trucking, management and oil field services through its subsidiaries. The company operates through two business segments: Oilfield Services and Trucking/Logistics. The Oilfield Services segment provides specialized transportation, drilling, well-servicing and dewatering services to the oil and natural gas industry.

The company’s shares closed on Tuesday at C$12.48.

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