Converge Technology Solutions (TSE:CTS) Rating Lowered to "Tender" at Desjardins

Converge Technology Solutions (TSE:CTS - Get Free Report) was downgraded by stock analysts at Desjardins from a "buy" rating to a "tender" rating in a research note issued on Friday,BayStreet.CA reports. They currently have a C$5.50 price target on the stock, up from their previous price target of C$5.00. Desjardins' target price would suggest a potential upside of 1.29% from the company's current price.

CTS has been the subject of several other research reports. Ventum Financial cut Converge Technology Solutions from a "buy" rating to a "tender" rating and dropped their price objective for the stock from C$6.00 to C$5.50 in a report on Monday, February 10th. TD Securities upgraded Converge Technology Solutions from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Stifel Canada upgraded shares of Converge Technology Solutions to a "strong-buy" rating in a report on Wednesday, January 15th. Scotiabank upped their price objective on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a report on Friday, February 7th. Finally, Canaccord Genuity Group cut shares of Converge Technology Solutions from a "moderate buy" rating to a "hold" rating in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Converge Technology Solutions has an average rating of "Moderate Buy" and a consensus target price of C$28.83.

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Converge Technology Solutions Trading Down 0.2 %

Shares of TSE:CTS traded down C$0.01 during midday trading on Friday, hitting C$5.43. 617,521 shares of the stock traded hands, compared to its average volume of 1,593,588. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78. The business's 50 day moving average is C$4.32 and its two-hundred day moving average is C$4.05. The stock has a market capitalization of C$1.02 billion, a PE ratio of -6.51, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.