Scotiabank Keeps a Buy Rating on Intertape Polymer

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Consumer Goods sector company, Intertape Polymer (TSX: ITP). Analyst Michael Doumet from Scotiabank remains bullish on the stock and has a C$27 price target.

According to TipRanks.com, Doumet is ranked #1355 out of 4706 analysts.

Currently, the analyst consensus on Intertape Polymer is Strong Buy and the average price target is C$26, representing a 30.0% upside.

In a report issued on October 30, RBC Capital also reiterated a Buy rating on the stock with a C$26 price target.

The company has a one-year high of C$25.74 and a one-year low of C$17.49. Currently, Intertape Polymer has an average volume of 298.5K.

Intertape Polymer Group, Inc. engages in development, manufacture, and sale of paper and film based pressure-sensitive, water-activated tapes, polyethylene, polyolefin films, woven coated fabrics, and complementary packaging systems for industrial and retail use. Its products include air pillows, carton sealing machines, carton seating tape, and double coated, duct, and electrical tape. The company was founded by Melbourne F. Yull in 1981 and is headquartered in Montréal, Canada.

The company’s shares closed on Monday at C$20.