Raymond James Thinks Black Diamond’s Stock is Going to Recover

By Carrie Williams

In a new note to investors today, an analyst has provided a rating update for the Services sector company, Black Diamond (BDIResearch Report). Analyst Frederic Bastien from Raymond James rated Black Diamond (BDIResearch Report) a Buy, setting a C$3 price target.

According to TipRanks.com, Bastien is ranked #1978 out of 5182 analysts.

Currently, the analyst consensus on Black Diamond is a Hold with an average price target of C$2.81.

Based on Black Diamond’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of C$3.79 million. In comparison, last year the company had a GAAP net loss of C$1.92 million.

Black Diamond Group Ltd. engages in renting and selling space rental and modular workforce accommodation. It operates through the following segments: Modular Space Solutions (MSS), Workforce Solutions (WFS), and Corporate and Other.

The company’s shares closed on Monday at C$2.03, close to its 52-week low of C$1.65.