Analyst upgrades, with more to comeTTR is not only getting more analyst coverage, but those analyst's are coming in with upgraded target prices. Always nice to hear that analyst's are confirming what I suspected a few months ago when I initiated a position in Titanium Transportation. GLTA
Here's the link:
Tuesday Analyst Upgrades and Downgrades Seeing it “at an inflection point,” Paradigm Capital analyst Corey Hammill initiated coverage of Titanium Transportation Group Inc. with a “buy” rating.
“After building a strong foundation in a huge industry, the company enjoyed organic growth through a rapid U.S. expansion strategy in its asset-light logistics business, and an increasingly large appetite for growth through acquisition in its Canadian asset-based trucking segment,” he said. “What makes TTR unique is its grasp on technology. The company is a leader in the use and integration of the latest technologies which are enhancing efficiencies, unlike many of its peers.”
Mr. Hammill set a target of $6 per share, exceeding the $5.38 average.
“Given the growth trajectory, plan for additional U.S. locations and the possibility of future acquisitions, we think $500 million in revenue is achievable by 2023, which we estimate could support a $7.50 share price,” he said. “Titanium is built to be a consolidator in the Canadian trucking industry, leveraging its intense focus on technology to drive efficiency while simultaneously growing its logistics business, offering a great cash flow stream, with limited upfront investment. The stock trades at a discount to the broad transportation group, and long term we think Titanium will be a logical takeout candidate for a large transportation company.”