Scotiabank Believes Ag Growth International (TSX: AFN) Still Has Room to Grow

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Conglomerates sector company, Ag Growth International (TSX: AFN). On August 10, analyst Michael Doumet gave a Buy rating to AFN and set a C$70 price target.

Doumet has an average return of 5.7% when recommending Ag Growth International.

According to TipRanks.com, Doumet is ranked #1087 out of 4628 analysts.

Ag Growth International has an analyst consensus of Moderate Buy, with a price target consensus of C$70.

Ag Growth International’s market cap is currently C$925.9M and has a P/E ratio of 46.6.

Ag Growth International, Inc. engages in the manufacturing of agricultural equipment, which focus on portable and stationary grain handling, storage and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, grain drying systems, and fertilizer handling and storage systems. Its product portfolio includes portable handling, permanent handling, storage & conditioning, livestock and manufacturing. The company was founded by Gary Anderson and Robert Allan Stenson in November 1996 and is headquartered in Winnipeg, Canada.

The company’s shares closed on Friday at C$57.75, close to its 52-week high of C$60.26.