Highlights
Raymond James has initiated coverage on High Liner Foods (TSE: HLF) with an “Outperform” rating and a price target of C$22.00. The price target implies a potential gain of approximately 20% from the stock’s most recent close at C$18.27.
This rating aligns with a recent trend of upward revisions among major Canadian brokerages. Earlier in May, BMO Capital Markets adjusted its target price on High Liner shares from C$19.00 to C$19.50. Similarly, Royal Bank of Canada (RBC) raised its estimate from C$20.00 to C$21.00 while assigning a “sector perform” rating. Canaccord Genuity Group has also weighed in, maintaining a “buy” rating and setting its target at C$21.00.
High Liner’s valuation remains relatively modest, trading at a price-to-earnings (P/E) ratio of 6.48 with a market capitalization of approximately C$383 million. The company's financial position reveals a mixed picture: while it maintains a high current ratio of 2.66—typically indicative of solid short-term liquidity—the quick ratio is substantially lower at 0.38, and the debt-to-equity ratio stands at a notably high 55.83.
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