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

By Ryan Adsit

Ag Growth International (TSX: AFN), the Conglomerates sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Jacob Bout from CIBC reiterated a Buy rating, with a C$71 price target.

Bout has an average return of 2.2% when recommending Ag Growth International.

According to TipRanks.com, Bout is ranked #1678 out of 4850 analysts.

Ag Growth International has an analyst consensus of Strong Buy, with a price target consensus of C$72.25, implying a 21.6% upside from current levels. In a report released yesterday, TD Securities also reiterated a Buy rating on the stock with a C$80 price target.

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Ag Growth International’s market cap is currently C$971.4M and has a P/E ratio of 27.1. The company has a Price to Book ratio of 3.24.

Ag Growth International, Inc. engages in the manufacture of agricultural equipment. The firm operates through the Farm and Commercial segments. Its product portfolio includes portable handling, permanent handling, storage and conditioning, livestock and manufacturing.

The company’s shares closed on Friday at C$59.44, close to its 52-week high of C$60.63.