Scotiabank Boosts Transcontinental (TSE:TCL.A) Price Target to C$18.00

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Transcontinental (TSE:TCL.A) had its price target increased by analysts at Scotiabank from C$16.00 to C$18.00 in a research note issued on Thursday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 33.63% from the company’s current price.

TCL.A has been the topic of several other reports. CIBC increased their target price on Transcontinental from C$18.50 to C$19.00 in a research note on Friday, February 28th. Royal Bank of Canada cut their target price on Transcontinental from C$23.00 to C$17.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 15th. Canaccord Genuity cut their target price on Transcontinental from C$19.00 to C$17.00 in a research note on Tuesday. National Bank Financial cut their target price on Transcontinental from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. Finally, TD Securities dropped their price target on Transcontinental from C$23.00 to C$22.00 and set a “buy” rating on the stock in a research note on Friday, February 28th.

Shares of Transcontinental stock traded up C$0.67 during midday trading on Thursday, hitting C$13.47. The company had a trading volume of 231,462 shares, compared to its average volume of 140,806. The company has a 50 day moving average of C$11.79 and a 200 day moving average of C$14.00. The company has a debt-to-equity ratio of 90.79, a quick ratio of 1.60 and a current ratio of 2.14. Transcontinental has a 52-week low of C$9.50 and a 52-week high of C$17.60. The stock has a market capitalization of $986.86 million and a P/E ratio of 8.16.

Transcontinental Company Profile

Transcontinental Inc engages in flexible packaging business in Canada, the United States, Latin America, the United Kingdom, Australia, and New Zealand. It operates through three segments: Packaging, Printing, and Media. The Packaging segment engages in extrusion, lamination, printing, and converting activities, as well as offers flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films and bags, and advanced coatings.

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