Post by
retiredcf on Jan 02, 2022 9:25am
CIBC Upgrade
EQUITY RESEARCH
December 29, 2021 Earnings Update
AIRBOSS OF AMERICA CORP.
Nitrile Gloves Deliveries Pushed Out Again But Not Overly
Fussed; Opportunity Pipeline Has Increased
Our Conclusion
BOS revised its 2021 guidance to reflect supply chain issues that will push
out its nitrile glove deliveries from Q4/21 into Q1/22. We are not overly
fussed by this as revenue is just shifting between quarters. More importantly,
the company raised its opportunity pipeline which now sits at over $1.5B
versus over $1B back in mid-November. We continue to see the company
benefiting from earnings upside as it converts its pipeline of opportunities,
which we also see driving a valuation re-rate. We would be buyers of BOS on
the back of any weakness from its updated outlook. We maintain our
Outperformer rating and our price target moves from C$54 to C$55.
Comment by
gossamer4 on Jan 03, 2022 1:19am
This post has been removed in accordance with Community Policy