Scotiabank Reiterates Their Buy Rating on Neo Performance Materials Inc (NEO)

By Carrie Williams

Neo Performance Materials Inc (NEOResearch Report), was revisited on November 14, and remains undervalued for at least one analyst on the street. Scotiabank’s analyst Mark Neville reiterates their Buy rating on the shares, with a C$24 price target.

According to TipRanks.com, Neville is a 4-star analyst with an average return of 8.1% and a 58.8% success rate. Neville covers the Basic Materials sector, focusing on stocks such as SNC-Lavalin Group Inc, Stella-Jones Inc, and Stantec Inc.

Neo Performance Materials Inc has an analyst consensus of Strong Buy, with a price target consensus of C$23.33, implying a 46.7% upside from current levels. In a report issued on October 30, RBC Capital also reiterated a Buy rating on the stock with a C$24 price target.

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The company has a one-year high of C$18.65 and a one-year low of C$13.87. Currently, Neo Performance Materials Inc has an average volume of 10.66K.

Neo Performance Materials, Inc. manufactures rare earth and rare metalbased functional materials. The company operates through the following business segments: Magnequench, Chemicals & Oxides, and Rare Metals. The Company was founded on September 12, 2017 and is headquartered in Toronto, Canada.

The company’s shares closed on Friday at C$15.90.