Scotiabank Increases New Flyer Industries (NFI) Price Target to C$60.00

New Flyer Industries (TSE:NFI) had its price target increased by Scotiabank from C$59.00 to C$60.00 in a research note issued to investors on Monday. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 22.57% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. CIBC increased their target price on shares of New Flyer Industries from C$59.00 to C$60.00 in a research report on Monday. TD Securities reduced their target price on shares of New Flyer Industries from C$63.00 to C$61.00 and set a “buy” rating for the company in a research report on Friday, November 10th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a C$57.00 target price on shares of New Flyer Industries in a research report on Friday, August 25th.

Shares of New Flyer Industries (TSE NFI) traded down C$0.12 during midday trading on Monday, hitting C$48.95. 300,116 shares of the stock were exchanged, compared to its average volume of 153,453. New Flyer Industries has a 1-year low of C$39.01 and a 1-year high of C$57.70.

In related news, insider Paul Warren Dennis Smith sold 4,700 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of C$50.79, for a total value of C$238,713.00. Also, insider Wayne Ray Joseph sold 10,800 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of C$51.00, for a total transaction of C$550,800.00. Insiders sold 40,800 shares of company stock valued at $2,082,046 in the last three months.

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About New Flyer Industries

New Flyer Industries Inc manufactures and sells transit buses and motor coaches in the United States and Canada. It operates through two segments, Transit Bus and Coach Manufacturing Operations, and Aftermarket Operations. The company also distributes parts with fabrication, manufacturing, distribution, and service centers.

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