Converge Technology Solutions (TSE:CTS) Given New C$12.00 Price Target at Canaccord Genuity Group

Converge Technology Solutions (TSE:CTS – Get Rating) had its price target trimmed by Canaccord Genuity Group from C$14.50 to C$12.00 in a report released on Thursday, BayStreet.CA reports.

Other research analysts have also recently issued reports about the stock. National Bank Financial reiterated an outperfrom under weight rating on shares of Converge Technology Solutions in a research report on Tuesday, April 26th. Echelon Wealth Partners reiterated a buy rating and set a C$14.50 price target on shares of Converge Technology Solutions in a research report on Thursday, April 7th. CIBC reduced their price target on shares of Converge Technology Solutions from C$12.50 to C$11.00 in a research report on Monday, January 31st. Desjardins reiterated a buy rating on shares of Converge Technology Solutions in a research report on Wednesday, March 23rd. Finally, TD Securities dropped their price objective on Converge Technology Solutions from C$12.00 to C$8.50 and set a hold rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Converge Technology Solutions has a consensus rating of Buy and a consensus price target of C$13.06.

Shares of TSE CTS opened at C$6.15 on Thursday. Converge Technology Solutions has a one year low of C$5.88 and a one year high of C$13.09. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.32 and a quick ratio of 1.12. The firm’s 50 day simple moving average is C$7.96 and its two-hundred day simple moving average is C$8.13. The stock has a market capitalization of C$1.32 billion and a P/E ratio of 76.88.

About Converge Technology Solutions (Get Rating)

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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