As can be seen, their target is well below consensus. GLTA
After meetings with its management, BMO’s Devin Dodge cut his target for Finning International Inc. to $32 from $38 with a “market perform” rating. The average is $44.67.
“We came away from the meetings incrementally more positive and believe FTT is poised to deliver improved and more sustainable earnings over the cycle. However, we believe escalating concerns for a recession and moderating commodity prices (though admittedly still at elevated levels) provide a challenging backdrop for the stock. We would consider a more constructive rating on improved visibility into economic conditions and/or mining sector investment in Chile, all else equal.