Converge Technology Solutions Corp. (TSE:CTS) Receives C$12.79 Average PT from Analysts

Converge Technology Solutions Corp. (TSE:CTS – Get Rating) has received an average recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$12.79.

A number of equities research analysts have recently issued reports on CTS shares. Echelon Wealth Partners restated a “speculative buy” rating on shares of Converge Technology Solutions in a report on Thursday, November 11th. Raymond James reiterated an “outperform” rating and issued a C$12.50 price target on shares of Converge Technology Solutions in a research note on Friday, February 18th. Cormark boosted their price target on Converge Technology Solutions to C$12.75 and gave the company a “buy” rating in a research note on Friday, November 12th. TD Securities began coverage on Converge Technology Solutions in a research note on Tuesday, December 14th. They issued a “hold” rating and a C$13.00 price target for the company. Finally, Laurentian Bank of Canada boosted their price target on Converge Technology Solutions to C$12.50 and gave the company a “buy” rating in a research note on Friday, November 12th.

Shares of TSE:CTS opened at C$8.90 on Friday. Converge Technology Solutions has a 12-month low of C$4.91 and a 12-month high of C$13.09. The stock has a market cap of C$1.91 billion and a PE ratio of 156.14. The business has a 50 day moving average of C$9.89 and a 200-day moving average of C$10.77. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 3.09.

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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