RBC Capital upgraded Mullen Group to Outperform from Sector Perform with a price target of C$17, up from C$15. The company is trading on “trough earnings on trough valuation” as well as operating in an attractive acquisition environment, the analyst tells investors in a research note. The firm sees current weakness in the trucking space as a meaningful opportunity for Mullen to acquire struggling carriers.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MLLGF:
- Mullen Group price target raised to C$16.50 from C$16 at CIBC
- Mullen Group Ltd. To Acquire ContainerWorld Forwarding Services Inc.
- Mullen Group resumed with a Market Perform at Raymond James
- Mullen Group Ltd. Announces Declaration of Monthly Dividend
- Mullen Group price target raised by C$2.50 at TD Securities