Mullen Group stock gets a higher RBC target after Q2 results

Mullen Group stock gets a higher RBC target after the Canadian logistics company delivered CAD 609.30 million in Q2 2026 revenue. The latest figures combine an earnings beat with a new analyst checkpoint for the trucking and industrial services group.

RBC lifts target to CAD 32.00

Markets Insider reported on September 30, 2026 that RBC Capital raised its Mullen Group target from CAD 30.00 to CAD 32.00 and retained an Outperform rating. The research update incorporated Q3 estimates and mid-quarter volume checks, with RBC describing the volume backdrop as improving.

The target revision matters because it follows a reporting period in which the company exceeded both revenue and earnings expectations. It also gives the market a dated reference point before the next scheduled quarterly release.

Q2 revenue beats consensus

According to Investing.com, Mullen Group reported CAD 609.30 million in Q2 2026 revenue against CAD 590.42 million expected. Adjusted earnings per share came in at CAD 0.37 versus a CAD 0.33 consensus estimate, while the source reported a revenue surprise of 3.20 percent and an EPS surprise of 10.78 percent.

The comparison points to operating execution rather than a purely valuation-driven story. Mullen Group operates across less-than-truckload transportation, logistics and warehousing, specialized industrial services, and international logistics, giving volume trends a direct connection to quarterly revenue.

October earnings set the next test

Yahoo Finance reported on September 23, 2026 that Mullen Group plans to release Q3 2026 results on October 22, 2026, followed by a conference call at 10:00 a.m. ET. That date will test whether the improving volume trend cited by RBC translated into another quarter of revenue growth.

The company also declared a monthly dividend of CAD 0.07 per common share on September 22, 2026, according to GlobeNewswire. The payment is scheduled for October 15, 2026.

Stock remains below its yearly high

On the Toronto Stock Exchange, MTL was last at CAD 27.30 on September 30, 2026 at 4:00 p.m. ET, versus a prior close of CAD 27.23. Its 52-week range was CAD 13.53 to CAD 28.78, and market capitalization stood at CAD 2.6 billion on that date.