Several Upgrades ; Globe & Mail In the wake of the late Friday announcement of its acquisition of the B.C.-based Bandstra Group of Companies, a group of equity analysts raised their target prices for shares of Mullen Group Ltd.
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Those making changes include:
* Scotia Capital’s Konark Gupta to $14.25 from $14 with a “sector outperform” rating. The average target on the Street is $13.23.
* CIBC World Markets’ Kevin Chiang to $14.25 from $13.50 with an “outperformer” rating.
“We view this acquisition as in line with MTL’s strategy of expanding its logistics operations through M&A, and it reflects the company’s deep pipeline of opportunities,” said Mr. Chiang.
* National Bank Financial’s Michael Robertson to $15.25 from $14.50 with an “outperform” rating.