e.l.f. Beauty stock plummets 20% as revenue and guidance fall short of expectations
Investing.com - CIBC upgraded Martinrea International (TSX:MRE) (OTC:MRETF) from Neutral to Outperformer on Monday, raising its price target to C$13.00 from C$10.50.
The upgrade reflects CIBC’s more positive outlook for auto suppliers following reduced tariff risks and lower sector expectations already priced into the market.
CIBC cited Martinrea’s attractive valuation and improved cash flow profile, which provides increased capacity for capital deployment, as key factors supporting the rating change.
While acknowledging that Martinrea’s small market capitalization limits ownership from certain investors, CIBC sees an attractive risk-reward setup with limited downside potential.
The firm also identified a potential resumption of Normal Course Issuer Bid (NCIB) activity in coming quarters as an important catalyst for the stock.
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