Converge Technology Solutions (TSE:CTS) Price Target Raised to C$154.00

Converge Technology Solutions (TSE:CTS) had its price target lifted by investment analysts at Canaccord Genuity Group from C$153.00 to C$154.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock.

CTS has been the subject of several other reports. 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. Ventum Financial cut Converge Technology Solutions from a “buy” rating to a “tender” rating and reduced their target price for the stock from C$6.00 to C$5.50 in a report on Monday, February 10th. Desjardins cut Converge Technology Solutions from a “buy” rating to a “tender” rating and upped their price target for the company from C$5.00 to C$5.50 in a research note on Friday. Jefferies Financial Group reduced their price target on shares of Converge Technology Solutions from C$145.00 to C$140.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Stifel Canada raised Converge Technology Solutions to a “strong-buy” rating in a research note on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Converge Technology Solutions presently has a consensus rating of “Moderate Buy” and an average price target of C$25.80.

Converge Technology Solutions Price Performance

Shares of CTS remained flat at C$5.45 during trading hours on Friday. 942,179 shares of the stock traded hands, compared to its average volume of 1,599,614. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The stock has a market capitalization of C$1.03 billion, a PE ratio of -6.54, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company’s 50 day moving average price is C$4.28 and its two-hundred day moving average price is C$4.04. The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68.

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.