Analysts targets: average of $3.44IMHO, market liked the results when released yesterday. The "downgrades" that followed led some to sell today.
Take these analysts targets with a grain of salt. They may change targets after investor's day when XBC rolls out the strategic 3 year plan. It's arbitrary as to what valuation multiple they give and without guidance they use their own rev estimates. As I suggested before, you could come out with your own personal target price based on what you choose say for the EV/S or P/S multiple and apply that to your rev estimate say for 2022. With the mutiplier effect of these numbers, you can see how a wide range of price targets can emerge.
Take particular note of Cormark's $1.50 SELL recommendation (the only one in this group of 9). They provide highest rev est for 2022 yet the lowest EV/S multiple of 1.25. A target below book ($2) suggests a liquidation value, but I left it here for fairness although IMHO it's ridiculous. RJ's 2022 rev est seems low. The price targets range from $1.50 to $6USD ($7.60). These moving targets will change throughout the year.
Eight Capital: $2.40, 2022 rev of $187M, combo 2X rev and 1X NAV
Beacon: $2.50, 2022 rev of $196M, 1.8X EV/S
Canacord: $2.50, 2022 rev of $188M, $2X EV/S
Cormark: $1.50, 2022, rev of $223M, 1.25X EV/S
Desjardins: $4.50, 2023 rev of $206M, 4X EV/S
National Bank: $4, 10% DCF model
Raymond James : $3, 2022 rev of $157M, 3X EV/S
TD : $3, 1X NAV = 2022 EV/S of 2.7X (2022 rev of 193M)
Craig Hallum: $6USD, 2022 rev of $189M, 5X EV/S with 2023 rev of $240M
Avg = $3.44