Could Mullen Group Ltd Change Direction After Today’s Huge Decline?

 Could Mullen Group Ltd Change Direction After Today's Huge Decline?

The stock of Mullen Group Ltd (TSE:MTL) is a huge mover today! About 16,285 shares traded hands. Mullen Group Ltd (TSE:MTL) has risen 33.10% since April 18, 2016 and is uptrending. It has outperformed by 28.54% the S&P500.
The move comes after 7 months negative chart setup for the $2.00 billion company. It was reported on Nov, 22 by Barchart.com. We have $17.66 PT which if reached, will make TSE:MTL worth $140.00 million less.

Mullen Group Ltd (TSE:MTL) Ratings Coverage

Out of 8 analysts covering Mullen Group (TSE:MTL), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. $22.5 is the highest target while $14 is the lowest. The $18.55 average target is -2.32% below today’s ($18.99) stock price. Mullen Group has been the topic of 31 analyst reports since July 23, 2015 according to StockzIntelligence Inc. BMO Capital Markets maintained the stock with “Market Perform” rating in Friday, October 21 report. Raymond James upgraded the stock to “Outperform” rating in Friday, November 20 report. The rating was maintained by Scotia Capital on Thursday, July 23 with “Sector Outperform”. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, October 22. Raymond James downgraded it to “Market Perform” rating and $16.50 target price in Friday, October 7 report. RBC Capital Markets maintained it with “Outperform” rating and $19 target price in Friday, July 22 report. The stock of Mullen Group Ltd (TSE:MTL) has “Market Perform” rating given on Friday, July 24 by Raymond James. The stock of Mullen Group Ltd (TSE:MTL) has “Sector Performer” rating given on Thursday, January 14 by IBC. The stock of Mullen Group Ltd (TSE:MTL) earned “Buy” rating by Cormark Securities on Wednesday, October 14. On Thursday, October 22 the stock rating was maintained by Scotia Capital with “Sector Outperform”.

More notable recent Mullen Group Ltd (TSE:MTL) news were published by: Marketwired.com which released: “Mullen Group Ltd. Founder Estate Planning” on November 16, 2016, also Marketwired.com with their article: “Mullen Group Ltd. Reports Third Quarter Financial Results and Operating Update” published on October 19, 2016, Marketwired.com published: “Mullen Group Ltd. Announces $100 Million Bought Deal Offering and Concurrent …” on April 26, 2016. More interesting news about Mullen Group Ltd (TSE:MTL) were released by: Marketwired.com and their article: “Mullen Group Ltd. Closes $149.0 Million Bought Deal Offering and Concurrent …” published on May 17, 2016 as well as Marketwired.com‘s news article titled: “Mullen Group Ltd. Reports First Quarter Financial Results and Business Update” with publication date: April 20, 2016.

Mullen Group Ltd. is a supplier of trucking and logistics services in Canada. The company has a market cap of $2.00 billion. The Firm provides a range of specialized transportation and related services to the oil and natural gas industry in western Canada. It has a 33.55 P/E ratio. The Firm operates in two divisions: Trucking/Logistics and Oilfield Services.

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