Raymond James Citing another “stellar quarter,” Raymond James analyst Bryan Fast upgraded Wajax Corp. (WJX-T) to “outperform” from “market perform” while raising his price target to C$30 from C$26.
Wajax reported third-quarter adjusted EPS of 70 cents, well above the consensus expectation of 58 cents - and that was accomplished without Wajax receiving any wage subsidies for the first time since the program began. Gross profit for the Canadian distributor of industrial components was up 33% from a year ago as revenues increased 18%.