Stifel Nicolaus Issues Pessimistic Forecast for Kits Eyecare (TSE:KITS) Stock Price

Kits Eyecare (TSE:KITS) had its target price dropped by investment analysts at Stifel Nicolaus from C$24.00 to C$21.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 79.49% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. ATB Cormark Capital Markets cut their target price on shares of Kits Eyecare from C$20.00 to C$16.75 and set a “speculative buy” rating for the company in a research report on Thursday. Desjardins cut their target price on shares of Kits Eyecare from C$25.00 to C$23.00 and set a “buy” rating for the company in a research report on Thursday. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$20.69.

Kits Eyecare Stock Up 1.1%

Shares of KITS opened at C$11.70 on Thursday. The company has a market cap of C$397.68 million, a P/E ratio of 130.00 and a beta of 0.46. Kits Eyecare has a twelve month low of C$11.12 and a twelve month high of C$22.56.

Kits Eyecare (TSE:KITS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$0.06 earnings per share for the quarter. The firm had revenue of C$57.47 million for the quarter.

About Kits Eyecare

KITS (TSX: KITS) is one of the world’s fastest growing eyecare providers, offering high-quality, affordable prescription glasses and contact lenses through its vertically integrated digital platform. With advanced in-house lens manufacturing, an industry-leading digital fit experience powered by OpticianAI, and thousands of 5-star customer reviews, KITS is redefining how Canadians experience eyecare. Designed in Canada. Delivered worldwide.