TSXV:NYX.DB - Post by User
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seajuston Jun 01, 2017 8:18am
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Globe says NYX Gaming Group maintained at "buy"
Globe says NYX Gaming Group maintained at "buy" Globe says NYX Gaming Group maintained at "buy"
2017-06-01 04:44 PT - In the News
The Globe and Mail reports in its Thursday, June 1, edition that Canaccord Genuity analyst Kevin Wright says NYX Gaming posted solid progress in its latest earnings report. The Globe's Gillian Livingston writes in the Eye On Equities column that investors might pay more attention to this stock as there have been a number of mergers and acquisitions in this sector in recent years. Mr. Wright says in an note: "The stock is likely one or two quarters away from winning back the hearts and minds of investors but we consider Q1/17 as potentially the start of a trend. NYX could be an M&A target, which may be a reason to buy ahead of the next quarter when margin turnaround is on show. We remain 'buy' rated with a $3 target [price] based on 10.5 times 2017E EV/EBITDA [enterprise value to earnings before interest, taxes, depreciation and amortization], a discount to peers at 11.7 times." Analysts on average target the shares at $2.59. Mackie Research Capital said NYX's cash flow may have turned the corner in the Eye column on Nov. 22, 2016. Mackie analyst Nihil Thadani reduced his target price by 50 cents to $3.50 per share and kept his "speculative buy" rating. The shares were then worth $1.21.