Melcor Developments Price Target Cut to $27.00 (MRD)
Equities researchers at Laurentian cut their target price on shares of Melcor Developments (TSE: MRD) from $30.50 to $27.00 in a report issued on Friday. The firm currently has a “buy” rating on the stock.
Shares of Melcor Developments traded up 0.21% during mid-day trading on Friday, hitting $18.85. Melcor Developments has a one year low of $13.99 and a one year high of $21.25. The stock’s 50-day moving average is currently $19.23. The company has a market cap of $570.4 million and a P/E ratio of 5.58.
Melcor Developments Ltd. is real estate development and management Company. It is engaged in the development of urban communities and the subsequent marketing of residential, commercial and industrial lands in Western Canada.
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