Scotia 10:49 AM EDT, 05/11/2022 (MT Newswires) -- Scotiabank on Wednesday noted that the first quarter for Converge Technology (CTS.TO) to be a "robust quarter" for the company with record revenues.
"Overall, we believe this was a good quarter for the company," Scotiabank said. "The clearing of booking backlogs and increasingly active pipeline has set the right tone for the year ahead."
Scotiabank expects this growth along with strategic acquisitions to continue to strengthen the company's product offerings alongside its brand recognition.
Scotiabank maintained its sector outperform rating and price target of $14 per share.