Analysts’ forecast returns, recommendations and yields for all stocks in the TSX

On May 9, the S&P/TSX Composite Index closed at a record high. Yet, the index is still trading at a reasonable multiple relative to historical levels. According to Bloomberg, the 2024 price-to-earnings multiple is 15.2 times, below the 10-year historical average forward multiple of 16.7 times.

Year-to-date, the TSX is up 6.8 per cent, driven higher by the materials and energy sectors that have rallied 18 per cent and 17 per cent, respectively. Consequently, it is no surprise to see stocks in the materials sector leading the way with the greatest increases to their target prices over recent weeks.

Since March 18, when we last published this report, average target prices for approximately 61 per cent of stocks in the index have moved higher. Amongst the stocks with the largest increases to their average target prices are IAMGOLD Corp. . The posted target price for each security is an average of all available target prices from analysts.

It’s important to note that high target prices, which imply stellar returns that seem unbelievable may be just that - unrealistic. At times, when a stock price falls analysts may maintain their bullish expectations, inflating the forecast return. In addition, an outlier can skew the average target price, to the upside or downside, particularly when the number of analysts covering a stock is low.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TSX futures rise as global markets recover on easing Middle East tensionsWorld stocks recovered some losses on Monday as investors reversed some of their more defensive positions taken going into the weekend on fears of a wider...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

The most oversold and overbought stocks on the TSXA look at equities with price momentum in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

S&P/TSX composite down in late-morning trading amid losses in base metal stocksTORONTO — Canada's main stock index was in the red in late-morning trading, weighed down by losses in base metal stocks, while U.S. stock markets traded...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

S&P/TSX composite recovers from early losses to close higher MondayTORONTO — Canada's main stock index recovered from early losses to end higher Monday along with U.S. stock markets.
Source: SooToday - 🏆 8. / 85 Read more »

S&P/TSX composite rises, U.S. stock markets also climb ahead of tech earningsTORONTO — Canada's main stock index rose nearly 140 points Tuesday, led by strength in technology stocks, while U.S. stock markets also climbed. The rally was led by technology stocks, with the Nasdaq rising 1.6 per cent.
Source: SooToday - 🏆 8. / 85 Read more »

S&P/TSX composite rises almost 140 points, U.S. stock markets also climb higherTORONTO — Canada's main stock index rose nearly 140 points Tuesday, led by strength in technology stocks, while U.S. stock markets also climbed. The S&P/TSX ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »