or
Remember me
Back
Following “strong” quarterly results, Canaccord Genuity’s Robert Young increased his Haivision Systems Inc. target to $6.50 from $4.75 with a “buy” rating. The average is $6.
“Product revenue growth of 29 per cent year-over-year was primarily driven by a pulled forward programmatic defense order worth $2.5-million (from FQ4), strength across combined Aviwest bonded 5G cellular + Makito deployments, and solid momentum in Command 360,” he said. “Haivision continues to see steady demand for live sports, Command 360 implementations, along with a large opportunity in NA for its Aviwest PRO Series transmitters. Management raised its revenue guide to $135-140-million from $130-135-million for F2023 with double-digit adj. EBITDA margin guide (unchanged) for the full fiscal year. Management also reiterated its long-term target of adj. EBITDA margins of 20 per cent through GM expansion to low 70% over time and disciplined opex with restructuring in FQ3 likely to benefit FQ4 and F2024 margins. Haivision’s strong quarter, improved balance sheet, growing margin profile, and reasonable valuation keeps us BUY rated.”
Receive investor kits and email updates from Stockhouse and directly from these companies.
