Acumen Capital Dark Horse pick
Globe says Pollard Banknote maintained at "buy"
2024-01-17 08:07 ET - In the News
The Globe and Mail reports in its Wednesday, Jan. 17, edition that analysts at Acumen Capital have named Pollard Banknote one of their "Dark Horse" stock picks for 2024. The Globe's David Leeder writes that the analysts say Pollard Banknote has "lost a surprising amount of investor conviction" and remains "under the radar" and "could surprise to the upside" this year. The Acumen stockpickers rate Pollard Banknote "buy," with a $42 share target. Analysts on average target the shares at $37. The Acumen analysts say in a note: "Pollard Banknote had a strong 2023 with the shares returning 68 per cent as their improved financial results drove the strong performance. While the shares are now trading at or near 52-week highs, we think 2024 could be another solid year for the company. Management successfully navigated the inflationary environment through 2022 and 2023, and the margin improvements are now showing up in their financials. We anticipate more of the same for the next several quarters as gross margins recover, and potentially exceed, pre-pandemic levels." The Globe reported on Nov. 9 that Canaccord analyst Robert Young had kept his "buy" recommendation for Pollard Banknote intact. It was then worth $30.80.