Stifel Canada Upgrades Converge Technology Solutions (TSE:CTS) to Strong-Buy

Converge Technology Solutions (TSE:CTS) was upgraded by research analysts at Stifel Canada to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. TD Securities reduced their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th. CIBC reduced their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. National Bank Financial downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Stifel Nicolaus set a C$4.00 price target on shares of Converge Technology Solutions and gave the stock a “hold” rating in a research report on Thursday. Finally, Canaccord Genuity Group lowered their price objective on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Converge Technology Solutions presently has an average rating of “Moderate Buy” and an average price target of C$5.77.

Converge Technology Solutions Stock Down 3.8 %

TSE:CTS opened at C$3.55 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. Converge Technology Solutions has a 12-month low of C$2.90 and a 12-month high of C$6.06. The stock’s fifty day simple moving average is C$3.42 and its 200-day simple moving average is C$3.95. The firm has a market capitalization of C$692.96 million, a P/E ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.