Michael Mills of Nova Scotia-based Beacon Securities says, based on the deal in which High Liner will pay CAD $31.5 million ($31.2 million/€23.5 million) for Massachusetts-based Viking, he is raising his 12-month target price for High Liner stock from $15 ($14.85/€11.20) to $17 ($16.82/€12.69).
He didn't have to wait long -- High Liner shares climbed as much as 12 percent Monday in trading on the Toronto Stock Exchange. High Liner shares, which are up 85 percent the past one year, hit an 18 year-high of $16.98
