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Canaccord Genuity Maintains Their Buy Rating on Evertz Technologies (ET)


Evertz Technologies (TSX: ET), the Consumer Goods sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Robert Young from Canaccord Genuity rated Evertz Technologies (TSX: ET) a Buy, setting a C$18.50 price target.

Young has an average return of 2.2% when recommending Evertz Technologies.

According to TipRanks.com, Young is ranked #444 out of 4870 analysts.

Currently, the analyst consensus on Evertz Technologies is a Strong Buy with an average price target of C$19.17, implying a 15.6% upside from current levels. In a report released today, RBC Capital also maintained a Buy rating on the stock with a C$21 price target.

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Based on Evertz Technologies’ latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of C$8.19 million. In comparison, last year the company had a net profit of C$13.08 million.

Evertz Technologies Ltd. engages in the design, manufacture, and distribution of video and audio infrastructure solutions for the television, telecommunications, and new media industries. It offers routers; infrastructure products; compression products; multi-viewers; video replay; production and post-production; master sync, clock and test; monitoring, control, and new management system; fiber and transport products; and playout and media management. The company was founded on May 28, 1981 and is headquartered in Burlington, Canada.

The company’s shares closed on Wednesday at C$16.59.