Canaccord Genuity Group Raises Stingray Digitl (TSE:RAY) Price Target to C$21.00

Stingray Digitl (TSE:RAY) had its price objective increased by equities research analysts at Canaccord Genuity Group from C$20.50 to C$21.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 44.53% from the stock’s current price.

Separately, National Bank Financial reduced their target price on shares of Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$20.50.

Stingray Digitl Trading Up 1.2%

Shares of RAY stock traded up C$0.17 during mid-day trading on Friday, hitting C$14.53. The stock had a trading volume of 16,485 shares, compared to its average volume of 55,594. Stingray Digitl has a fifty-two week low of C$8.23 and a fifty-two week high of C$18.00. The firm has a market cap of C$988.55 million, a price-to-earnings ratio of 23.06 and a beta of 1.16. The company has a 50-day simple moving average of C$14.71.

Stingray Digitl Company Profile

Leveraging our expertise in personal care electrical appliance industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through Pure Beauty, we principally engage in the sourcing and wholesaling of personal care electrical appliances for international brand owners. We also provide product design and development collaboration as a value-added service for our customers. Our customers are brand owners of personal care electrical appliances who market and sell their personal care electrical appliances products to end consumers.