Element Financial (ELEEF) Received its Third Buy in a Row

After TD Securities and Scotiabank gave Element Financial (Other OTC: ELEEF) a Buy rating last month, the company received another Buy, this time from National Bank. Analyst Jaeme Gloyn maintained a Buy rating on Element Financial today and set a price target of C$18.00. The company’s shares closed last Wednesday at $9.67, close to its 52-week high of $10.47.

Gloyn has an average return of 33.5% when recommending Element Financial.

According to TipRanks.com, Gloyn is ranked #2292 out of 7012 analysts.

Element Financial has an analyst consensus of Strong Buy, with a price target consensus of $12.24, implying a 26.7% upside from current levels. In a report issued on October 22, Credit Suisse also initiated coverage with a Buy rating on the stock with a C$19.00 price target.

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The company has a one-year high of $10.47 and a one-year low of $5.06. Currently, Element Financial has an average volume of 10.09K.

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Element Fleet Management Corp. engages in the provision of services and financing solutions for commercial vehicle fleets. It operates through the Fleet Management and Non-Core segments. The Fleet Management segment offers core fleet management services. The Non-Core segment includes outsourced servicers that do not form part of the core fleet portfolio. The company was founded by J. Stephen Sands on May 11, 2007 and is headquartered in Toronto, Canada.

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