The Technology company, Akumin Inc (AKU.U), has received a rating update from a Wall Street analyst today. The company received a Buy rating from Clarus’ analyst Noel Atkinson, with a C$6.50 price target.
Atkinson wrote:
“We have raised our 2019 and 2020 estimates. After adjusting for the higher net debt load, our target price remains US$6.50 per share (target multiple up a half-turn to 9x to reflect peer group valuations). We maintain our Buy rating. US$214MM DEAL ADDS CENTERS IN FLORIDA AND GEORGIA IN HIGH-MARGIN PERSONAL INJURY IMAGING NICHE Yesterday Akumin announced its largest-ever acquisition of medical imaging centers, buying 27 centers owned and/or operated by Advanced Diagnostics Group (ADG) in of initial consideration plus a modest earnout. The ADG portfolio generated US$30MM of EBITDA in 2018 (purchase multiple of 7.1x 2018 EBITDA). We estimate that Akumin will be at an annual run-rate of ~US$75MM of Adj. EBITDA at closing.”
According to TipRanks.com, Atkinson is ranked #424 out of 5187 analysts.
Read also: Top Analyst Pounds the Table on Shopify (SHOP) Stock
Currently, the analyst consensus on Akumin Inc is a Moderate Buy with an average price target of $6.50.
The company has a one-year high of $4.54 and a one-year low of $2.70. Currently, Akumin Inc has an average volume of 32.16K.
Akumin, Inc. engages in the provision of outpatient diagnostic imaging services. Its services include magnetic resonance imaging, computerized tomography, positron emission tomography, ultrasound, X-ray, mammography and other diagnostic or interventional radiology procedures. The company was founded on August 12, 2015 and is headquartered in Toronto, Canada.
The company’s shares closed on Tuesday at $3.93.
