TSXV:PBX - Post Discussion
Post by
freedom45 on Aug 31, 2022 10:00am
globe and mail
2022-08-31 07:55 ET - In the News
The Globe and Mail reports in its Wednesday, Aug. 31, edition that Desjardins Securities analyst Gary Ho has reiterated his "buy" recommendation for Powerband Solutions. The Globe's David Leeder writes that Mr. Ho trimmed his share target to 40 cents from 50 cents. Powerband Solutions is a Burlington, Ont.-based fintech provider in the automotive industry. Mr. Ho says in a note: "Powerband reported a noisy kitchen-sink quarter. Originations, revenue and gross profit were below our estimates, but adjusted EBITDA beat. Powerband wrote down $6.6-million in goodwill and intangible assets. That said, with added flexibility following its private placement, as well as cost-reduction initiatives and a focus on the profitable DF segment, we view Powerband as being at an inflection point although patience is required near-term." The Globe reported on Jan. 12 that Mr. Ho rated Powerband "buy" in new coverage. He said he saw "considerable market opportunity" ahead. The shares could then be had for 78 cents. The Globe reported on May 5 that Mr. Ho was sticking with his "buy" call on Powerband when it could be had for 27 cents. The Globe reported on June 2 that Mr. Ho still rated Powerband "buy." It was then worth 23.5 cents.
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