CanWel Building Gets a Buy Rating from GMP FirstEnergy

By Austin Angelo

In a new note to investors on July 28, an analyst has provided a rating update for the Services sector company, CanWel Building (TSX: CWX). Analyst Anoop Prihar from GMP FirstEnergy remains bullish on the stock and has a C$7.50 price target.

Prihar has an average return of 23.6% when recommending CanWel Building.

According to TipRanks.com, Prihar is ranked #546 out of 4160 analysts.

Currently, the analyst consensus on CanWel Building is Moderate Buy and the average price target is C$7.25, representing a 17.1% upside.

In a report issued on July 28, Canaccord Genuity also reiterated a Buy rating on the stock with a C$7 price target.

The company has a one year high of C$7.09 and a one year low of C$5.23. Currently, CanWel Building has an average volume of 171.5K.

CanWel Building Materials Group Ltd. engages in the distribution and trade of construction materials. It operates through the following divisions: CanWel Building Materials, CanWel Treating, California Cascade, and Jemi Fibre.

The company’s shares closed on Friday at C$6.19.