RE:Upgrade 2Cormark raises target from $1.35 to $1.75. Not much of an upgrade when they pick a new target price that is well below the current share price. More like chasing after the stock.
That said, Cormark with their perennial negative take on Quarterhill has a record of being more right than anyone else. And they're clearly still not convinced.
I like the story. But I can see where it will be a while yet before we see a quarterly income statement where the number on the bottom line is greater than zero.
In a way, Cormark's $1.75 is almost a slap in the face to Quarterhill given that it's below the level where a ton of insider buying happened in December. Seems to suggest Cormark doesn't believe Quarterhill insiders knew what they were doing.