01:51 PM EST, 12/09/2024 (MT Newswires) -- National Bank has raised its target on Mullen Group ( MLLGF ) by $1, to $19 and reiterated its Outperform rating, following management's release of the company's 2025 budget and business plan.

"Our new target is $19.00 versus $18.00 previously as we roll the basis for our valuation to our newly introduced 2026 forecast. On our updated 2025 estimates (which assume some modest improvement in end markets), Mullen trades at 6.3x EV/EBITDA versus its 5-year forward average of 7.0x (weighted average peers currently at 10.9x)."

Price: 15.71, Change: +0.14, Percent Change: +0.90