Acumen Capital Dark Horse pick
Globe says Information Services maintained at "buy"
2024-01-17 08:08 ET - In the News
The Globe and Mail reports in its Wednesday, Jan. 17, edition that analysts at Acumen Capital have named Information Services one of their "Dark Horse" stock picks for 2024. The Globe's David Leeder writes that the analysts say Information Services has "lost a surprising amount of investor conviction" and remains "under the radar" and "could surprise to the upside" this year. The Acumen stockpickers rate Information Services "buy," with a $31.75 share target. Analysts on average target the shares at $31.38. The Acumen analysts say in a note: "Operational results were generally as expected in 2023 with registry transactions moderating from the elevated levels seen during COVID but remaining well ahead of the 10-year average. The key highlight for 2023 was the 20-year MSA extension announced in early July that provides clarity for the registry division through to 2053. With Saskatchewan poised for continued outperformance driven by a strong labour market and record population growth, we expect a strong year for Information Services in 2024." The Globe reported on July 7 that Raymond James analyst Stephen Boland had upgraded Information Services to "outperform" from "market perform." It was then worth $24.40.