RE:RE:RE:RE:RE:RE:RE:Wake up in 6 months.......Thanks Homework. We are in agreement on all points, including sequencing.
Ongoing profitability is key, as you note. My expectation is that Q3 will show a Q/Q improvement and there is a good chance that Q4 will not only be EBITDA positive, but will record an operating profit.
For information, there was one upgrade after Q2, Raymond James ($1.70 to $1.80). Cormark wrote a positive report and then left its target at $1.35. Cormark's outlook is generally in line with CIBC and RJ but its multiple is 8x versus 10x and 12x respectively. QTRH needs more coverage and it should be out on the road shortly after the new CEO is announced. At the risk of sounding like a broken record, some of any new coverage needs to be stateside - just my opinion.
I don't expect major ETC contract announcements before QRTH delivers another improved performance in Q3 to provide confidence contracts can be run profitably at the implementation stage.