Stock Analysis:Onex Corporation (TSE:OCX) Target Raised
In analysts note issued to clients by Canaccord Genuity on Tuesday morning, Onex Corporation (TSE:OCX) had its target price per share lifted to $90.00. The firm now has a solid “Buy” rating on shares.
From a total of 6 analysts covering Onex Corporation (TSE:OCX) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is $68.79 while the lowest target price is $59.18. The mean of all analyst targets is $63.37 with a 6.02% above today’s ($80.36) stock price. Onex Corporation was the topic of 9 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Scotia Capital maintained shares on August 14 with “Sector Perform” rating.
The stock decreased 0.53% or $0.43 on December 8, striking $80.36. Approximately 97,069 shares of stock traded hands. ONEX Corporation (TSE:OCX) has risen 15.26% since May 6, 2015 and is uptrending. It has outperformed by 16.06% the S&P500.
Onex Corporation is a Canada investment company. The company has a market cap of $8.51 billion. The Firm manages its own capital and that of investors from around the world, including public and private pension funds, sovereign wealth funds, banks and insurance companies. It currently has negative earnings. Onex focuses on carve-outs of subsidiaries and supply divisions from multinational firms, cost reduction and operational restructurings and platforms for add-on acquisitions.