RE:RE:National bank research reportThanks Paperonweb, for posting NBF research report. Very Helpful !!
Laurentian Bank Securities also covers Savaria and they adjusted their price target to $17.50 from $18.50 with a BUY rating. I don't have the full report, though.
Stock price took a beating due to a miss on profitability, EPS at 0.07 (estimate 0.12). It should be temporary though. Please see NBF quote..
" We calculate organic growth of 7% for Accessibility and a disappointing flat figure for Adapted Vehicles (should return to normal in Q3 with the Quebec Government subsidy now back in place)"
With SPAN and more acquistions expected, Savaria should comfortably deliver on the higher guidance for 2017 and beyond.
In my view, this pullback is an opportunity to add shares and so I have done.
GLTA