The Technology company, Converge Technology Solutions Corp (CTS – Research Report), has received a rating update from a Wall Street analyst today. Analyst Rob Goff from Echelon Wealth Partners reiterated a Buy rating, with a C$5.40 price target.
Goff has an average return of 62.1% when recommending Converge Technology Solutions Corp.
According to TipRanks.com, Goff is ranked #234 out of 8631 analysts.
Currently, the analyst consensus on Converge Technology Solutions Corp is a Moderate Buy with an average price target of C$5.30, implying a 51.4% upside from current levels. In a report issued on November 6, Scotiabank also maintained a Buy rating on the stock with a C$7.00 price target.
Converge Technology Solutions Corp’s market cap is currently C$690.6M and has a P/E ratio of 61.95.
Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face. It has two reportable segments: the United States and Canada. The majority of its revenue is generated from product sales in the United States.
The company’s shares closed last Tuesday at C$3.70.
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