B.Riley FBR analyst Mike Crawford maintained a Buy rating on Anterix Inc. (ATEX) today and set a price target of $59. The company’s shares closed last Monday at $42.82.
Crawford said:
“Buy-rated pdvWireless, now d/b/a Anterix (ATEX, $59 PT) filed its 1Q20 (Jun) 10-Q on 8/8 and held a conference call after market close on 8/14 to update investors on its efforts to steer home a the FCC to create a private enterprise broadband (PEBB) allocation in the 900 MHz band where ATEX owns 52% of the entire band nationwide—and then to monetize this asset primarily via envisioned, 20-year spectrum lease agreements with investor-owned utilities (IOUs) and other critical infrastructure industries (CII) providers. For the record, ATEX generated $453K revenues in its fiscal period, exiting with $69M in cash (vs. our $793K, $71M projections) as the company winds down dispatch services in anticipation of moving forward on its PEBB vision.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 4.5% and a 50.0% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Ducommun Inc.
Anterix Inc. has an analyst consensus of Strong Buy, with a price target consensus of $66.67, implying a 76.3% upside from current levels. In a report issued on August 9, Evercore ISI also maintained a Buy rating on the stock with a $61 price target.
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The company has a one-year high of $51.33 and a one-year low of $27.65. Currently, Anterix Inc. has an average volume of 139K.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is neutral on the stock.
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Anterix, Inc., doing business as Anterix, is a wireless communications company, which engages in the spectrum assets to enable targeted critical infrastructure and enterprise customers to deploy private broadband networks, technologies, and solutions. Its products include teamconnect, pdvconnect, and diga-talk plus application.
