Canaccord Genuity Reaffirms Their Buy Rating on New Flyer Industries

By Austin Angelo

Today, an analyst has provided a rating update for the Services sector company, New Flyer Industries (TSX: NFI). The company received a Buy rating from Canaccord Genuity’s analyst Raveel Afzaal, with a C$10.75 price target.

According to TipRanks.com, Afzaal is ranked #991 out of 4566 analysts.

Currently, the analyst consensus on New Flyer Industries is Strong Buy and the average price target is C$50.95, representing a -8.9% downside.

In a report issued on May 12, Scotiabank also maintained a Buy rating on the stock with a C$57 price target.

The company has a one year high of C$57.70 and a one year low of C$36.25. Currently, New Flyer Industries has an average volume of 149.2K.

New Flyer Industries, Inc. manufactures heavy duty transit buses in the U. S. and Canada. The company operates through two segments: Bus and Coach Manufacturing Operations and Aftermarket Operations. The Bus and Coach Manufacturing Operations segment designs, manufactures and sells heavy-duty transit buses of various body lengths with diverse propulsion systems. The Aftermarket Operations segment supports all post-sale activities, which includes parts distribution, field services, support documentation and training. Its services include clean running, fuel efficient hybrid buses, zero-emission electric trolley, buses with alternative fuels, like hydrogen and CNG and clean diesel buses. New Flyer Industries was founded by John Coval in 1930 and is headquartered in Winnipeg, Canada.

The company’s shares closed last Tuesday at $55.90, close to its 52-week high of $57.70.