CIBC Capital Markets raised its price target on NFI Group (NFI.TO) to C$29 from C$27.
Analyst Ty Collin maintained an Outperformer rating on shares of the Canadian multinational bus manufacturer.
"We believe that supply chain issues have largely normalized and operations are running smoothly, setting up a strong Q2 result," Collin said in a note to clients. "NFI continues to pull through stronger economics from its large backlog, driving higher profitability."
NFI may lift the low end of its 2026 EBITDA in its Q2 report, but it "may hold off until Q3 to make larger guidance adjustments," Collin said. "Valuation remains reasonable, but with shares +62% YTD and +17% intra-quarter, expectations are clearly elevated."
(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)