Mullen Group price target raised to C$16.50 from C$15 at CIBC

CIBC raised the firm’s price target on Mullen Group (MLLGF) to C$16.50 from C$15 and keeps an Outperformer rating on the shares. The firm says it has seen improved sentiment across the freight transportation sector given the 90-day delay in the 145% tariffs on Chinese goods, along with the corresponding reduction on U.S. goods imported to China to 10%. This “helps de-risk the outlook for the freight sector,” the analyst tells investors in a research note. As such, CIBC took up target multiples in the group.