Converge Technology Solutions (TSE:CTS) Price Target Raised to C$6.00 at Canaccord Genuity Group

Converge Technology Solutions (TSE:CTS - Free Report) had its target price lifted by Canaccord Genuity Group from C$5.50 to C$6.00 in a research report report published on Thursday,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on the company. CIBC lifted their price target on Converge Technology Solutions from C$5.50 to C$6.00 in a research report on Thursday, April 3rd. Stifel Canada raised Converge Technology Solutions to a "strong-buy" rating in a report on Wednesday, January 15th. Desjardins cut shares of Converge Technology Solutions from a "buy" rating to a "tender" rating and boosted their price target for the stock from C$5.00 to C$5.50 in a research report on Friday, March 7th. TD Securities raised their price objective on shares of Converge Technology Solutions from C$5.50 to C$6.00 and gave the company a "sell" rating in a research report on Thursday, April 3rd. Finally, Stifel Nicolaus set a C$4.00 target price on shares of Converge Technology Solutions and gave the stock a "hold" rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Converge Technology Solutions has an average rating of "Hold" and a consensus price target of C$16.63.

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Converge Technology Solutions Stock Performance

Shares of TSE:CTS remained flat at C$5.95 during trading on Thursday. 1,791,051 shares of the stock were exchanged, compared to its average volume of 1,613,551. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68. The firm has a market cap of C$1.12 billion, a price-to-earnings ratio of -7.14, a PEG ratio of 0.14 and a beta of 1.81. The business's fifty day moving average is C$5.27 and its two-hundred day moving average is C$4.23.

About Converge Technology Solutions

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.