Revised TargetsCIBC’s Kevin Chiang increased his Mullen Group Ltd. target to $17.50 from $16.50 with an “outperformer” rating, while Raymond James’ Michael Barth moved his target to $18.75 from $17.25 with a “market perform” rating. The average is $18.70. “The headwinds we’ve observed over the last two years in the LTL and L&W segments are subsiding, the cyclical S&I segment is showing some strength, and margins are outperforming on cost control. We’ve revised our estimates and target higher as a result,” said Mr. Barth. “At the same time, we think the market reaction appropriately reflects these positive revisions with the stock up more than 8 per cent at the time of writing. As such, we remain at Market Perform from here, and believe there are better risk-adjusted returns across our coverage universe today.”