TSX:CTS - Post Discussion
Post by
ideaguy on Oct 25, 2024 11:23pm
Canaccord Genuity Cuts Valuation on Lowered Outlook
Recent target price revised down by Canaccord Genuity from C$6.25 to C$6. This adjustment is indicative of a reduced outlook for the company’s upcoming quarter, suggesting analysts are concerned about potential challenges or underperformance in the near term.
Despite this downward adjustment, the broader analyst consensus remains relatively optimistic. Based on forecasts from six analysts, the average target price for Converge Technology Solutions over the next 12 months is CAD 5.55. This suggests that, even after the recent downgrade, there is still potential for the stock to appreciate from its current levels, providing some reassurance to investors.
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