Canaccord Still looking for more than a triple. GLTA
Canaccord Genuity’s Robert Young lowered his Sangoma Technologies Corp. target to US$12 from US$13 with a “buy” rating. The average is US$14.
“We are reducing our F2023 revenue to the lower end of the $250-260-million guidance given the macro uncertainty. We have also reduced our F23 EBITDA estimate to $45.4-million to be conservative, given the macros and potential pricing pressure/ introduction of price bundles. We expect Sangoma to continue gradual margin expansion in the near term, particularly through cost discipline ($3-million savings in H2),” said Mr. Young.