CIBC Thinks Mullen Group Ltd.’s Stock is Going to Recover


Mullen Group Ltd. (MTL), the Services sector company was revisited today, and remains undervalued for at least one analyst on the street. The Services company, Mullen Group Ltd. (TSX: MTL) has just received a rating update from a Wall Street analyst.

According to TipRanks.com, Morrison has 0 stars on 0-5 star ranking scale with an average return of -17.2% and a 30.5% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Trican Well Service Ltd, and Imperial Oil Limited.

Currently, the analyst consensus on Mullen Group Ltd. is a Moderate Buy with an average price target of C$11.50.

The company has a one-year high of C$15.44 and a one-year low of C$7.68. Currently, Mullen Group Ltd. has an average volume of 261.9K.

Mullen Group Ltd. provides freight trucking, management and oil field services. The company operates through the following 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 last Tuesday at C$7.79, close to its 52-week low of C$7.68.

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