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Scotiabank Thinks New Flyer Industries’ Stock is Going to Recover


In a new note to investors on November 7, an analyst has provided a rating update for the Conglomerates sector company, New Flyer Industries (NFI). Analyst Mark Neville from Scotiabank rated New Flyer Industries (NFI) a Buy on November 7, setting a C$60 price target.

According to TipRanks.com, Neville is a 4-star analyst with an average return of 9.1% and a 61.0% success rate. Neville covers the Basic Materials sector, focusing on stocks such as SNC-Lavalin Group Inc, Stella-Jones Inc, and Stantec Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for New Flyer Industries with a C$55 average price target, implying a 33.8% upside from current levels. In a report issued on November 7, AltaCorp Captial also reiterated a Buy rating on the stock with a C$65 price target.

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The company has a one-year high of C$61.25 and a one-year low of C$38.59. Currently, New Flyer Industries has an average volume of 160.1K.

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 Thursday at C$41.10, close to its 52-week low of C$38.59.