BMO Capital Believes Evertz Technologies (TSX: ET) Still Has Room to Grow

By Carrie Williams

The Consumer Goods sector company, Evertz Technologies (TSX: ET), has received a rating update from a Wall Street analyst yesterday. Analyst Thanos Moschopoulos from BMO Capital reiterated a Buy rating, with a C$19 price target.

According to TipRanks.com, Moschopoulos is a 3-star analyst with an average return of 4.9% and a 61.7% success rate. Moschopoulos covers the Technology sector, focusing on stocks such as CGI Group, Open Text, and Descartes.

Currently, the analyst consensus on Evertz Technologies is Strong Buy and the average price target is C$20.42, representing a 10.3% upside.

In a report released today, Canaccord Genuity also assigned a Buy rating to the stock with a C$20.25 price target.

Evertz Technologies’ market cap is currently C$1.37B and has a P/E ratio of 19.4.

Evertz Technologies Ltd. engages in the design, manufacture and distribution of video and audio infrastructure solutions for the television, telecommunications, and new media industries. The company products include infrastructure, visualization and monitoring, master control and branding, play out and content management, and compression and media transport solutions. It’s products implement advanced digital systems; route, distribute, control, and monitor video and audio signal; deliver television services over telecommunications networks, known as the internet protocol television; migrate from single channel transmission to multi channel media play out; improve facility workflow; deliver content to the multi screen consumer; and transition from analog to digital infrastructure. Evertz Technologies was founded on May 28, 1981 and is headquartered in Burlington, Canada.

The company’s shares closed on Wednesday at C$18.51, close to its 52-week high of C$18.65.