Cara Operations (CARA) Sets New 52-Week High Following Analyst Upgrade


Cara Operations (TSE:CARA) shares reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$33.50 to C$36.00. Scotiabank currently has an outperform rating on the stock. Cara Operations traded as high as C$28.70 and last traded at C$28.36, with a volume of 17713 shares trading hands. The stock had previously closed at C$27.39.


A number of other research analysts have also commented on CARA. CIBC lifted their price objective on shares of Cara Operations from C$24.00 to C$28.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Raymond James boosted their price target on shares of Cara Operations from C$26.00 to C$29.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Royal Bank of Canada boosted their price target on shares of Cara Operations from C$29.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. National Bank Financial boosted their price target on shares of Cara Operations from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a C$30.00 price target on shares of Cara Operations in a research note on Monday, April 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of C$31.33.


Cara Operations Company Profile

Cara Operations Limited operates and franchises full service restaurants. It operates through four segments: Corporate Restaurants, Franchise Restaurants, Food Processing and Distribution, and central operations. As of December 31, 2017, the company operated 1,272 restaurants, including 1,221 restaurants in Canada and 51 locations internationally under the Swiss Chalet, Harvey's, St-Hubert, Milestones, Montana's, Kelsey's, East Side Mario's, New York Fries, Prime Pubs, Bier Markt, Landing, Original Joe's, State & Main, Elephant & Castle, Burger's Priest, Pickle Barrel, Taverne Moderne, and The Keg restaurant brands.

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