Wellington West Capital Markets reportedly raised its 12-month price target for Cervus Equipment Corp. by $2
Wellington West Capital Markets Inc. analyst Robert Winslow reportedly raised his 12-month price target for Cervus Equipment Corp. (CVL.TO) by $2 to $20, adding that he expects shares to hit $25 in two years.
The rise in grain prices bodes well for Cervus Equipment Corp., an operator of heavy equipment dealerships in Western Canada that saw a 10% year-over-year bump in tractor and combine sales in the fourth quarter, Winslow is cited as saying in a Globe and Mail report. The rallying prices provides "sufficient farmer optimism to offset the extreme wet Prairie weather of summer/fall 2010 that materially hurt production," he reportedly said.
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