GREY:MWSWF - Post by User
Post by
NycePriceon Jan 31, 2015 9:51pm
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Post# 23385697
Very Bullish - $33M Financing with Galena Intact as per NR
Very Bullish - $33M Financing with Galena Intact as per NR
Globe says analysts are bullish on IMRIS
2015-01-13 06:40 ET - In the News
The Globe and Mail reports in its Tuesday, Jan. 13, edition that small-cap IMRIS (79 cents) could be a good candidate to benefit from the so-called January Effect. Globe columnist Fabrice Taylor writes that beyond being oversold for tax-loss purposes in December, IMRIS offers other highly compelling reasons to invest. Mr. Taylor concedes his recommendation is a risky one, so do not bet the ranch on it. IMRIS designs and manufactures cutting-edge proprietary surgical equipment. IMRIS has clocked revenues as high as $60-million with healthy gross margins, but sales are lumpy. Last year sales fell and the stock was a classic tax-loss candidate. The shares have bounced back modestly from their year-end lows, but analyst targets are as high as $3 a share, implying four-fold returns if the company delivers. The backlog is very healthy, suggesting a significant bounce in sales this year. IMRIS announced a capital raise just before Christmas. Insiders, who already owned a lot of stock, took the entire financing for themselves. Mr. Taylor says he has never seen insiders take an entire financing only to watch the company fail. As a result, The Globe writer assumes there is likely to be upside to the estimates.
