Barclays Believes Element Fleet Management (TSX: EFN) Won’t Stop Here

By Ryan Adsit

In a new note to investors yesterday, an analyst has provided a rating update for Element Fleet Management (EFNResearch Report). Analyst John Aiken from Barclays rated Element Fleet Management (EFNResearch Report) a Buy, setting a C$11 price target.

According to, Aiken is a 1-star analyst with an average return of -1.2% and a 43.4% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.

Currently, the analyst consensus on Element Fleet Management is a Strong Buy with an average price target of C$11.08, implying a 15.5% upside from current levels. In a report issued on April 24, RBC Capital also upgraded the stock to Buy with a C$10 price target.


Based on Element Fleet Management’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$80.47 million. In comparison, last year the company had a net profit of C$21.76 million.

Element Fleet Management Corp. engages in the provision of services and financing solutions for commercial vehicle fleets. It operates through the Fleet Management and Non-Core segments. The Fleet Management segment offers core fleet management services. The Non-Core segment includes outsourced servicers that do not form part of the core fleet portfolio.

The company’s shares closed on Thursday at C$9.59, close to its 52-week high of C$10.32.