Carmanah Tech (CMH) Receives a Buy from Canaccord Genuity

By Ryan Adsit

The Conglomerates sector company, Carmanah Tech (TSX: CMH), has received a rating update from a Wall Street analyst today. Analyst Raveel Afzaal from Canaccord Genuity rated Carmanah Tech (TSX: CMH) a Buy, setting a C$5.75 price target.

According to TipRanks.com, Afzaal is ranked #2503 out of 4850 analysts.

Currently, the analyst consensus on Carmanah Tech is a Moderate Buy with an average price target of C$5.88.

The company has a one-year high of C$4.99 and a one-year low of C$3.88. Currently, Carmanah Tech has an average volume of 5,826.

Carmanah Technologies Corp. designs, develops and distributes industrial and commercial solar powered outdoor LED lighting systems, signaling systems for the marine, aviation, traffic and obstruction markets, energy systems for the mobile markets and also designs and installs PV rooftop and greenfield power plants.

The company’s shares closed on Thursday at C$4.28.