Element Financial (ELEEF) Receives a Buy from Raymond James


Raymond James analyst Brenna Phelan maintained a Buy rating on Element Financial (ELEEF) today and set a price target of C$13.50. The company’s shares closed last Monday at $8.26, equals to its 52-week high of $8.26.

Phelan has an average return of 32.2% when recommending Element Financial.

According to TipRanks.com, Phelan is ranked #400 out of 5556 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Element Financial with a $9.47 average price target.

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Based on Element Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $47.88 million. In comparison, last year the company had a GAAP net loss of $261 million.

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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.

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