Investment analysts at the Royal Bank of Canada have raised their target price for shares of Calian Group (TSE: CGY) from C$58.00 to C$66.00. This adjustment, reported on October 29, 2023, reflects the firm’s positive outlook, maintaining an “outperform” rating on the stock. The new target implies a potential upside of approximately 22.93% from the stock’s previous closing price.
Several other research firms have also provided updates on Calian Group. Ventum Financial lowered its price target from C$60.00 to C$58.00, assigning a “buy” rating in a report issued on August 14, 2023. Meanwhile, CIBC increased its price objective from C$59.00 to C$62.00, reaffirming an “outperform” rating. Desjardins, on the other hand, adjusted its target downwards from C$62.00 to C$59.00, while still maintaining a “buy” recommendation.
As of now, five analysts have assigned a “buy” rating to Calian Group. According to data from MarketBeat.com, the stock currently holds a consensus rating of “buy” along with an average target price of C$63.80.
Calian Group’s Business Segments and Performance
Calian Group Ltd operates through four primary segments: Advanced Technologies, Health, Learning, and Information Technology. Notably, the Health segment accounts for the majority of the company’s revenue. This division encompasses various services, including Clinical Services, Nursing Services, Psychological Services, and Medical Property Management.
The company serves a diverse range of industries, including health, defence, security, aerospace, engineering, AgTech, and IT, showcasing its broad market reach.
Stock Performance and Market Reaction
Following the positive analyst outlook, shares of Calian Group have seen a notable increase, trading up 3.5%. Investors are closely monitoring these developments, as analysts express confidence in the company’s growth potential.
With a robust market presence and a favorable rating from multiple research firms, Calian Group appears well-positioned for continued growth in the upcoming quarters. Investors interested in the stock may want to consider these recent ratings and the company’s extensive service offerings as part of their decision-making process.
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