The Globe and Mail reports in its Thursday, Nov. 9, edition that RBC Capital analyst Sabahat Khan has reaffirmed his "outperform" recommendation for Finning International. The Globe's David Leeder writes in the Eye On Equities column that Mr. Khan gave his share target a $2 trim to $50. Analysts on average target the shares at $49.22.
Mr. Khan says in a note: "We were surprised at the magnitude of the negative share price reaction following Q3 results that reflected adjusted EBIT/EPS ahead of consensus forecasts (revenue was in line). We view the sizable backlog and good product support momentum favorably, and believe that the current valuation offers an attractive entry point."
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