CIBC Capital Markets raised its price target on Finning International Inc. (FTT.TO) to $66 from $50.
Analyst Krista Friesen maintained an Outperformer rating on shares of the Canadian industrial equipment dealer.
She resumed coverage of FTT following the closing of the sale of its 4Refuel business.
"We expect FTT to deploy the funds from the divestitures in line with the capital allocation priorities outlined at its 2023 Investor Day (organic growth, share buybacks), while at the same time maintaining a flexible balance sheet," Friesen said in a note to clients.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
