Goff rates CTS "speculative buy" - $3.00 Globe says Goff rates Converge Tech "speculative buy"
Converge Technology Solutions Corp (C:CTS)
Shares Issued 92,822,844
Last Close 8/10/2020 $1.60
Tuesday August 11 2020 - In the News
The Globe and Mail reports in its Tuesday, Aug. 11, edition that Industrial Alliance Securities analyst Rob Goff began coverage of Converge Technology Solutions with a "speculative buy" rating. The Globe's David Leeder writes in the Eye On Equities column that Mr. Goff set a share target of $3. Analysts on average target the shares at $2.71. Mr. Goff says in note: "Converge's track record of successfully completing 12 accretive acquisitions since October, 2017, speaks to the existing market opportunities and management's capabilities. We believe the company stands to build further shareholder value given the positive momentum of cross-selling its product suite for organic growth while key vendor relationships bring efficiencies, referrals, and acquisition candidates. We are bullish towards the company's ability to maintain its acquisition and organic growth momentum. We see the impressive outperformance of the marquee technology leaders and the interests of private equity as positive reflections of market growth along with a move to higher-value/margin services as digital implementations take on great complexity."
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