PRO Real Estate Investment Trust (CVE:PRV.UN) Rating Increased to Outperformer at Canadian Imperial Bank of Commerce

PRO Real Estate Investment Trust (CVE:PRV.UN) was upgraded by investment analysts at Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperformer” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a C$7.50 target price on the stock, up from their prior target price of C$7.00. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 226.09% from the company’s previous close.

A number of other analysts have also issued reports on PRV.UN. Desjardins boosted their target price on PRO Real Estate Investment Trust from C$6.75 to C$7.50 and gave the company a “buy” rating in a research report on Friday. Royal Bank Of Canada raised their target price on PRO Real Estate Investment Trust from C$7.25 to C$7.50 and gave the company an “outperform” rating in a report on Friday. TD boosted their price target on shares of PRO Real Estate Investment Trust from C$7.00 to C$7.50 and gave the stock a “buy” rating in a research note on Friday. Finally, Raymond James Financial reduced their price target on shares of PRO Real Estate Investment Trust from C$7.50 to C$7.25 and set a “market perform” rating on the stock in a research report on Friday. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$7.07.

PRO Real Estate Investment Trust Trading Up 0.4%

CVE PRV.UN traded up C$0.01 during trading hours on Friday, reaching C$2.30. The company had a trading volume of 80,531 shares, compared to its average volume of 103,855. The stock has a 50-day moving average of C$2.30 and a 200 day moving average of C$2.30. PRO Real Estate Investment Trust has a 1-year low of C$1.80 and a 1-year high of C$2.45.

About PRO Real Estate Investment Trust

PROREIT is an unincorporated open-ended real estate investment trust owning a diversified portfolio of 84 commercial properties across Canada representing over 3.7 million square feet of gross leasable area. Established in 2013, PROREIT is mainly focused on strong secondary markets in Quebec, Atlantic Canada and Ontario, with selective exposure in Western Canada.