Equities researchers at Beacon Securities issued investors a note Monday upgrading High Liner Foods stock from a 'hold' to a 'buy' rating, according to the Cerbat Gem.
Scotiabank increased its target price on High Liner shares from CAD18.50 ($13.58/€12.22) to CAD20 ($14.68/€13.21) and gave the stock a “sector perform” rating last Thursday, according to the news site.
The company inked a deal last week to acquire 100 percent of US-based shrimp importer and distributor Rubicon Resources.
"Rubicon is an ideal acquisition for High Liner that will provide sales and earnings growth, and expedite diversification of our product portfolio to aquaculture species, like shrimp, that are experiencing stronger growth rates in North America,” said
High Liner President and CEO Keith Decker recently told IntraFishthe company hopes to work with Rubicon to expand further in the shrimp sector
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