By Ketki Saxena
Investing.com -- MTY Food Group (TSX:MTY) has witnessed a significant upswing in its price targets set by various analysts this week. The upward revisions come amid optimistic market sentiments and promising business prospects.
On Wednesday, TD (TSX:TD) Securities increased their price target for MTY Food Group from C$67.00 to C$70.00. This revision was closely followed by Raymond James, who also upped their price target on MTY shares from C$66.00 to C$70.00, maintaining a "market perform" rating on the stock.
The Royal Bank of Canada (TSX:RY) (RBC) joined the trend, lifting their price target on MTY shares from C$69.00 to C$71.00, while retaining a "sector perform" rating on the stock.
CIBC upgraded MTY Food Group's rating from "neutral" to "outperform", indicating an expectation of the stock outpacing the market average. Alongside this upgrade, they increased their target price for MTY shares from C$69.00 to C$75.00.
National Bankshares also revised their target price on MTY shares upwards from C$69.00 to C$70.00.
These revisions mark a departure from earlier analyst sentiment in April and June when some analysts had lowered their price targets for MTY Food Group. On Thursday, April 13th, Raymond James had lifted their price objective for MTY Food Group from C$65.00 to C$66.00, while both National Bankshares and CIBC (TSX:CM) had cut their price targets on June 26th and April 13th respectively