New Flyer Industries (NFI) has received a rating update from a Wall Street analyst today. The company received a Buy rating from CIBC’s analyst Kevin Chiang, with a C$48 price target.
According to TipRanks.com, Chiang is a 5-star analyst with an average return of 8.7% and a 60.2% success rate. Chiang covers the Services sector, focusing on stocks such as WestJet Airlines Ltd, Canadian Railway, and Canadian Pacific.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for New Flyer Industries with a C$53.33 average price target.
Based on New Flyer Industries’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$48.4 million. In comparison, last year the company had a net profit of C$96.77 million.
NFI Group, Inc. engages in bus and motor coach manufacturing and parts distributing. It operates through the Bus and Coach Manufacturing and Aftermarket Operations segments. The Bus and Coach Manufacturing Operations segment designs, manufactures, and sells heavy-duty transit buses of body lengths with propulsion systems.
The company’s shares closed on Monday at C$34.04, close to its 52-week low of C$31.88.
