Toromont Industries (TIH) Receives a Buy from Raymond James


Today, an analyst has provided a rating update for the Services sector company, Toromont Industries (TIH). Analyst Ben Cherniavsky from Raymond James reiterated a Buy rating, with a C$75 price target.

Cherniavsky has an average return of 11.9% when recommending Toromont Industries.

According to TipRanks.com, Cherniavsky is ranked #748 out of 5200 analysts.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Toromont Industries with a C$68.83 average price target.

Based on Toromont Industries’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$39.26 million. In comparison, last year the company had a net profit of C$30.78 million.

Toromont Industries Ltd. is engaged in the distribution of construction equipment, power systems, and refrigeration systems. It operates through the Equipment Group and CIMCO segments. The Equipment Group segment comprises of Toromont CAT, Battlefield, Sitech, and AgWest.

The company’s shares closed on Monday at C$64.44.

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