Canaccord Genuity Group Issues Positive Forecast for Converge Technology Solutions (TSE:CTS) Stock Price

Converge Technology Solutions (TSE:CTS - Get Free Report) had its price target hoisted by research analysts at Canaccord Genuity Group from C$153.00 to C$154.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock.

Several other analysts also recently issued reports on CTS. Scotiabank lifted their target price on Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Friday, February 7th. TD Securities upgraded shares of Converge Technology Solutions from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Stifel Canada raised shares of Converge Technology Solutions to a "strong-buy" rating in a report on Wednesday, January 15th. Stifel Nicolaus set a C$4.00 target price on shares of Converge Technology Solutions and gave the company a "hold" rating in a research note on Thursday, January 16th. Finally, CIBC boosted their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research note on Monday, February 10th. Six analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. According to MarketBeat.com, Converge Technology Solutions has a consensus rating of "Moderate Buy" and an average target price of C$28.83.

Converge Technology Solutions Price Performance

CTS stock traded down C$0.01 during trading on Friday, reaching C$5.43. The company's stock had a trading volume of 617,521 shares, compared to its average volume of 1,593,588. The company's fifty day moving average is C$4.32 and its 200-day moving average is C$4.05. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The company has a market capitalization of C$1.02 billion, a P/E ratio of -6.51, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78.

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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.