Cantor Fitzgerald Initiates a Buy Rating on Exela Technologies Inc

By Jason Carr

Cantor Fitzgerald analyst Joseph Foresi initiated coverage with a Buy rating on Exela Technologies Inc (NASDAQ: XELA) on December 5 and set a price target of $9. The company’s shares closed yesterday at $5.08, close to its 52-week low of $4.37.

Foresi noted:

“Exela (formed through the merger of SourceHov & Novitex-07/12/2017) is a Business Process Outsourcing (BPO) company providing information and transaction processing solutions. The company breaks down its business into three segments: Information & Transaction Processing Solutions (ITPS-78% of revs), Healthcare Solutions (HS-16% of revs) and Legal & Loss Prevention Solutions (LLPS-6% of revs). We believe Xela has a competitive advantage in transaction processing.”

According to TipRanks.com, Foresi is a top 100 analyst with an average return of 16.0% and a 85.2% success rate. Foresi covers the Technology sector, focusing on stocks such as Automatic Data Processing, Jack Henry & Associates, and Fidelity National Info.

Based on Exela Technologies Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $338 million and GAAP net loss of $110 million. In comparison, last year the company earned revenue of $0 and had a net profit of $52.57K.

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Exela Technologies, Inc. provides transaction processing solutions and enterprise information management. The company through its investment in its IP and document conversion and processing centers, and longstanding industry expertise, help clients with all transaction processing and enterprise information management needs, creating an automated and cost-effective solution. Exela Technologies is headquartered in Irving, TX.