TSX:BBTV.DB - Post Discussion
Post by
retiredcf on Jun 16, 2021 9:01am
BNS
Coming off restriction following its $35-million convertible offering, Scotia’ Jeff Fan cut his target for BBTV Holdings Inc. (BBTV-T) to $18.50 from $19 with a “sector outperform” rating. The average is $18.42.
“The convertible offering removes the near term (2022) expiration of BBTV’s RTL note and provides a multi-year horizon for management to continue the revenue growth and gross margin expansion put in motion in 2020,” said Mr. Fan. “Management’s informal guidance for Q2 is unchanged post the offering, and we continue to expect 22-per-cent revenue growth and 7.4-per-cent gross margin in Q2 as the business positions for margin expansion in late 2021 and 2022. Overall our thesis is unchanged, BBTV continues to grow both base and plus revenues, while making structural operational changes to increase gross margins.”
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