Ag Growth International (AFN) Received its Third Buy in a Row

By Austin Angelo

Analysts seem to be optimistic about Ag Growth International (AFNResearch Report) lately, with another positive rating update this time from Raymond James. Analyst Steve Hansen rated Ag Growth International (AFNResearch Report) a Buy today, setting a C$70 price target.

Hansen has an average return of 2.8% when recommending Ag Growth International.

According to TipRanks.com, Hansen is ranked #1540 out of 4918 analysts.

Ag Growth International has an analyst consensus of Strong Buy, with a price target consensus of C$71.33, which is a 19.1% upside from current levels. In a report issued on October 26, TD Securities also maintained a Buy rating on the stock with a C$78 price target.

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Based on Ag Growth International’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$20.74 million. In comparison, last year the company had a net profit of C$15.59 million.

Ag Growth International, Inc. engages in the manufacture of agricultural equipment. The firm operates through the Farm and Commercial segments. Its product portfolio includes portable handling, permanent handling, storage and conditioning, livestock and manufacturing.

The company’s shares closed on Thursday at C$59.91.