Linamar Corporation (TSE:LNR) saw its price target raised from C$88.00 to C$99.00 by CIBC in a research note released to investors on November 13, 2023. CIBC has assigned an “outperform” rating to the stock, reflecting confidence in Linamar’s performance in the market.
Other financial institutions have also adjusted their projections for Linamar. Scotiabank increased its price objective from C$80.00 to C$83.00 in a report dated October 17, 2023. Similarly, TD Securities raised its target from C$85.00 to C$96.00 in a note published on November 12, 2023. Currently, one analyst rates Linamar with a Strong Buy, while two analysts have issued Buy ratings, and two others have recommended a Hold. According to data from MarketBeat, Linamar has a consensus rating of “Moderate Buy” with an average target price set at C$87.60.
Recent Earnings Report
Linamar published its most recent earnings results on November 12, 2023. The company reported earnings per share (EPS) of C$2.51 for the quarter, along with a return on equity of 10.73% and a net margin of 5.58%. Revenue for the quarter totaled C$2.54 billion, indicating robust financial health. Analysts predict that Linamar will achieve an EPS of approximately 11.43 for the current fiscal year.
Linamar operates as a diversified global manufacturing entity, specializing in highly engineered products. Its Industrial segment includes the Skyjack and MacDon brands, which cater to the Aerial Work Platform and Agricultural industries, respectively. Meanwhile, the Mobility segment focuses on light metal casting, forging, machining, and assembly of components for both electric and traditional vehicles.
In addition to these operations, Linamar also offers design, development, and testing services through McLaren Engineering and the eLIN Product Solutions Group, further cementing its position in the mobility market.
As the company continues to expand its market presence, analysts will be closely watching Linamar’s performance in the coming quarters, especially in light of recent positive adjustments from multiple financial institutions.
