GREY:XEBEQ - Post by User
Post by
ace1mccoyon Mar 26, 2021 7:59am
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G&M Comments Adjusted March 26
G&M Comments Adjusted March 26 * TD Securities Aaron MacNeil downgraded Xebec Adsorption Inc. (
) to “speculative buy” to “buy” with a $7.50 target, down from $10. Canaccord Genuity analyst Yuri Lynk cut his target to $4.50 from $6 with a “hold” rating, while Desjardins Securities’ Frederic Tremblay lowered his target by a loonie to $6.50 with a “buy” recommendation. The average is $6.78.
“Following a challenging 2020, Xebec intends to pull various levers in 2021 to improve and derisk the business, reap the benefits of recent M&A and, importantly, rebuild credibility with investors,” said Mr. Tremblay. “While XBC has become a ‘show me’ story and the road ahead may be bumpy, we are comfortable with the fundamentals in its end markets, recent M&A activity and changes in the renewable natural gas (RNG) equipment business. We believe patient investors should be rewarded if execution improves.”