Canaccord Genuity Reiterates a Buy Rating on Neo Performance Materials Inc (NEO)

By Austin Angelo

Neo Performance Materials Inc (NEOResearch Report), the Conglomerates sector company was revisited on May 13, and remains undervalued for at least one analyst on the street. On May 13, analyst Yuri Lynk gave a Buy rating to NEO and set a C$14 price target.

According to TipRanks.com, Lynk is a 4-star analyst with an average return of 5.0% and a 52.6% success rate. Lynk covers the Basic Materials sector, focusing on stocks such as Badger Daylighting Ltd, Stantec Inc, and Fluor Corp.

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Currently, the analyst consensus on Neo Performance Materials Inc is a Strong Buy with an average price target of C$16.40.

The company has a one-year high of C$18.65 and a one-year low of C$9.86. Currently, Neo Performance Materials Inc has an average volume of 100.1K.

Neo Performance Materials, Inc. engages in the manufacture of metal-based functional materials. It operates through the following segments: Magnequench; Chemicals and Oxides; and Rare Metals. The Magnequench segment focuses in the production of magnetic powders used in bonded and hot deformed fully dense NdFeB magnets.

The company’s shares closed on Tuesday at C$11.85.