Mullen Group stock fell 1.04 percent on October 7

Published on 10/08/2026 at 06:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mullen Group stock fell 1.04 percent on October 7, while CIBC lifted its target to CAD 29 from CAD 28. Q2 revenue reached CAD 609.30 million.

MTL, CA6252841045, Illustration mit AI erstellt.

Mullen Group stock (ISIN CA6252841045) was last at CAD 26.72 on the Toronto Stock Exchange on October 7, 2026 at 4:00 p.m. ET, down 1.04 percent from the prior close. The latest analyst move came from CIBC on October 5, when Kevin Chiang raised the target to CAD 29 from CAD 28 while keeping a Neutral rating.

CIBC lifts its target to CAD 29

According to Markets Insider on October 5, 2026, CIBC increased its Mullen Group price target by CAD 1.00, or 3.57 percent, from CAD 28 to CAD 29. The bank retained its Neutral rating, making the target change an analyst reassessment rather than a change in recommendation.

The new target stands 8.54 percent above the CAD 26.72 share price. That gap leaves the market valuation and the upcoming quarterly report as the key checkpoints for the stock.

Q2 revenue reached CAD 609.30 million

Mullen Group reported CAD 609.30 million in revenue for Q2 2026, compared with CAD 547.70 million in Q1 2026, according to Investing.com. The sequential increase was CAD 61.60 million, equal to 11.25 percent.

The same Q2 data show net income of CAD 35.95 million, versus CAD 21.05 million in Q1 2026. Earnings per share were CAD 0.37 against a consensus estimate of CAD 0.33, while revenue of CAD 609.30 million exceeded the CAD 590.42 million estimate.

Q3 results arrive October 22

Mullen Group has scheduled its Q3 2026 earnings release for October 22, 2026 at 6:00 a.m. ET, followed by a conference call at 10:00 a.m. ET, according to Mullen Group. The release will test whether the Q2 revenue improvement continued through the quarter ending September 30, 2026.

MarketBeat lists a Moderate Buy consensus, an average target of CAD 26.22, a high target of CAD 32.00, a low target of CAD 18.00 and coverage from 8 analysts. Its consensus figures place the average target 1.87 percent below the October 7 share price.

Mullen Group stock stays below its yearly high

Mullen Group stock was last at CAD 26.72 on October 7, 2026, with a 52-week range of CAD 13.53 to CAD 28.78. The share price stood 7.16 percent below the yearly high, while market capitalization was CAD 2.6 billion and trading volume was 322,239 shares.