Post by
retiredcf on Dec 07, 2023 1:19pm
Targets Raised
Following a second-quarter 2024 revenue and earnings beat from Evertz Technologies Ltd. ), Raymond James’ Steven Li bumped his target for its shares to $16 from $15.50, reaffirming an “outperform” rating, while BMO’s Thanos Moschopoulos raised his target to $16 from $15.50 with an “outperform” rating. The average is $17.
“Evertz shares are flat year-to-date, underperforming the TSX (up 4 per cent YTD) which we believe is unwarranted given another quarter beat (third beat in a row) and record backlog,” Mr. Li said. “In April, ET announced its largest ever purchase order from a major U.S. based media company in excess of $152-million over 5 years. The race for video content continues to bode very well for ET.”
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