TD Securities Reaffirms Their Hold Rating on Sandvine

By Jason Carr

Wall Street analyst has provided a rating update for the Consumer Goods sector company on June 28, while remaining neutral on the stock. Analyst Daniel Chan from TD Securities reiterated a Hold rating, with a C$4.15 price target on June 28.

Chan has an average return of 10.3% when recommending Sandvine.

According to TipRanks.com, Chan is ranked #1432 out of 4600 analysts.

Currently, the analyst consensus on Sandvine is Moderate Buy and the average price target is C$4.12, representing a -3.1% downside.

In a report released yesterday, RBC Capital also downgraded the stock to Hold with a C$4.15 price target.

Sandvine’s market cap is currently C$534.9M and has a P/E ratio of 25.2.

Sandvine Corp. develops and markets network equipment and solutions for broadband and wireless operators. It offers services through mobile, DSL, cable, fixed wireless, and FTTx Internet access technologies. The company was founded by Don Bowman, Dave Nicholas Caputo, Tom Donnelly and Brad Siim in 2001 and is headquartered in Waterloo, Canada.

The company’s shares closed on Thursday at $4.25, close to its 52-week high of $4.30.