National Bank analyst John Shao hiked his target for Tecsys Inc. to $65 from $55, maintaining an “outperform” recommendation, while Laurentian Bank Securities analyst Nick Agostino raised his target to $63 from $60 with a “buy” rating. The average is $64.
“We welcome the revenue beat and strong SaaS growth, and expect SaaS bookings to normalize as the current bottlenecks subside. The EBITDA miss is also likely a blip on sales mix and F/X. TCS’s spend has translated into strong organic growth, which is our primary focus as this remains a sales-driven story at this time,” Mr. Agostino said.