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Savaria Corp T.SIS

Alternate Symbol(s):  SISXF

Savaria Corporation is a Canada-based company engaged in the accessibility industry. The Company provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its segments include Accessibility and Patient Care. It designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings. It operates a sales network of dealers worldwide and direct sales offices in North America, Europe (United Kingdom, The Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China.


TSX:SIS - Post by User

Bullboard Posts
Post by lotus1on Feb 21, 2019 10:12am
833 Views
Post# 29393399

Desjardins Securities

Desjardins SecuritiesFebruary 21, 2019

Desjardins Securities analyst Frederic Tremblay thinks Savaria Corp. (SIS-T) “is not a broken story,” advising investors to “buy the dip” under the belief its 2019 guidance is achievable and 2020 is likely to show its “true potential.”

“Only six months have passed since the game-changing acquisition of Garaventa and, clearly, we have yet to see the true potential of Savaria’s global platform,” he said. “The revised 2019 guidance and our newly introduced 2020 forecasts demonstrate the positive impacts anticipated to emerge from changes at Garaventa Europe, an improving margin outlook at Span and continued strength in Savaria’s core accessibility business. We believe that the current valuation offers a good entry point.”

After dropping his financial estimates slightly for 2019 in reaction to Wednesday’s release of preliminary fourth-quarter results, which he feels were “broadly in line” with expectations, Mr. Tremblay lowered his target for the stock to $16 from $20. The average is now $17.

He maintained a “buy” rating for the stock.

“SIS trades at 12.0 times our 2019 and 10.5 times our 2020 EBITDA estimates,” he said. “This is at the bottom of the historical range. The SIS story remains attractive and we believe that solid execution would contribute to a multiple expansion.”


Bullboard Posts