Friday’s analyst upgrades and downgrades
National Bank analyst Cameron Doerksen raised his price target to C$31 from C$23 and reiterated an “outperform” rating. He also increased his valuation multiple on his 2027 estimates to 9.0x enterprise value/EBITDA from 7.5x, indicating he thinks the stock’s higher trading range has staying power. Doerksen told clients in a note.“Mullen shares have performed strongly so far in 2026 up ~65% versus the S&P TSX up ~11%.
- ▪National Bank analyst Cameron Doerksen raised his price target to C$31 from C$23 and reiterated an “outperform” rating.
- ▪He also increased his valuation multiple on his 2027 estimates to 9.0x enterprise value/EBITDA from 7.5x, indicating he thinks the stock’s higher trading range has staying power.
- ▪Doerksen told clients in a note.“Mullen shares have performed strongly so far in 2026 up ~65% versus the S&P TSX up ~11%.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountInside the Market’s roundup of some of today’s key analyst actionsAnalysts are giving high praise to Mullen Group Ltd. (MTL-T) today after second quarter results came in ahead of expectations this week, with a capital budget increase that suggests continued improvement in freight demand to come. National Bank analyst Cameron Doerksen raised his price target to C$31 from C$23 and reiterated an “outperform” rating. He also increased his valuation multiple on his 2027 estimates to 9.0x enterprise value/EBITDA from 7.5x, indicating he thinks the stock’s higher trading range has staying power.
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