In a latest note to investors, a research analyst has provided a rating update for the Consumer Goods sector company, Avante Logixx (TSXV: XX). On June 12, analyst Doug Taylor gave a Buy rating to XX and set a C$0.60 price target.
“We are initiating coverage of Avante Logixx Inc. (TSE:XX; “Avante”) with a BUY rating and a C$0.60 target. Toronto-based Avante operates in the high-end security monitoring, response and related services markets. Recent management changes are expected to reignite organic growth and we expect the company will become more acquisitive, bringing the opportunity for meaningful accretion and synergy-driven value creation. While we think the current share price values the existing business fairly, as new management builds a track record of execution on expanding organic growth and effective capital deployment, we see upside. Our C$0.60 target reflects both our valuation for the existing operation ($0.46/share) and some optionality on M&A.”
According to TipRanks.com, Taylor is ranked #1336 out of 4830 analysts.
Currently, the analyst consensus on Avante Logixx is Moderate Buy and the average price target is C$0.60, representing a 36.4% upside.
In a report issued on June 12, Beacon also reiterated a Buy rating on the stock with a C$0.60 price target.
The company has a one-year high of C$0.50 and a one-year low of C$0.25. Currently, Avante Logixx has an average volume of 339.2K.
Avante Logixx, Inc. engages in the provision of security, monitoring, system integration, and technology solutions. Its products and services include residential and corporate security business: Avante control centre, monitoring, electronic building management, patrol and rapid response, intelligent perimeter protection, secure transport, international security travel advisory services, locksmith services, and smart home automation. The company was founded in 1996 by Emmanuel Mounouchos and is headquartered in Toronto, CA.
The company’s shares closed on Wednesday at C$0.44.