Top Innovation Sector Picks for 2021 From Echelon Capital Extracted from the Cantech Letter
Another information tech company, Quisitive Technology Solutions (Quisitive Technology Solutions Stock Quote, Chart, News, Analysts, Financials TSXV:QUIS), delivered solidly in the Q4 with a return of 38.0 per cent, and Goff stays bullish on the cloud adoption trend in a market expected to grow by a 18-19-per-cent CAGR from 2020 all the way to 2027. Goff said Quisitive’s partnership with Microsoft is significant from the perspective of signing new deals and adding new capabilities.
“We view Quisitive’s IT Services as a solid contributor offering double-digit organic growth together with prospects of accretive acquisitions,” DGoff said. “We look to LedgerPay as a potential company redefining asset where investors are afforded aggressive leverage to its upside. ouble-digit private market benchmarks for IT Services providers would derive a value of ~$0.70+ per share for QUIS’s IT Services. We believe investors at current levels should view LedgerPay as a heavily discounted option where successful execution would support valuations well in excess of our value at C$1.40+ per share.”
Goff reiterated his “Speculative Buy” rating on QUIS on January 13 while lifting his target from $1.50 to $1.60, which translated to a projected return of 60.0 per cent.