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FINWIRES

Finning International Price Target Raised to $120 at TD

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TD Securities raised its price target on Finning International Inc. (FTT.TO) to $120 from $115 on Wednesday.

Analyst Cheerily Radbourne maintained a Buy rating on shares of the Canadian industrial equipment dealer.

"Product support revenue is ~$6 Billion and growing, SG&A was ~15% of revenue versus ~18% in 2021, and ROIC is within the 18%-25% target range," Radbourne said in a note to clients.

"Finning has been viewed as a trading stock, but we think it now has a higher and more resilient earnings/ROIC profile," the analyst said.

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