Post by
retiredcf on Jun 24, 2023 8:34am
Globe & Mail's Weekly Stars & Dogs
Evertz Technologies (STAR)
True or false: When an analyst uses words such as “blowout,” “big,” “massive” and “strong” to describe a company’s earnings, it’s usually a sign the stock will rise. Answer: True. Shares of Evertz Technologies posted a one-day gain of 14.3 per cent after the company – which sells technology for the television, telecommunications and streaming industries – posted record quarterly revenue of $128.9-million, up 11.1 per cent from a year earlier, and earnings of $18.6-million, or 24 cents a share – beating expectations on the top and bottom lines. In addition to his other superlatives, Canaccord Genuity analyst Robert Young cited an “impressive bump” in Evertz’s order backlog, all of which prompted him to hike his price target on the shares to $19 from $15 and reiterate his “buy” recommendation. So I guess he likes the company?
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