Sandvine Receives a Buy from Scotiabank

By Jason Carr

In a latest note to investors, a research analyst has provided a rating update for the Consumer Goods sector company, Sandvine (TSX: SVC). Analyst Paul Steep from Scotiabank reiterated a Buy rating, with a C$4.15 price target yesterday.

Steep has an average return of 32.8% when recommending Sandvine.

According to TipRanks.com, Steep is ranked #1382 out of 4588 analysts.

Currently, the analyst consensus on Sandvine is Strong Buy and the average price target is C$4.17, representing a -2.1% downside.

In a report released yesterday, Desjardins also upgraded the stock to Buy with a C$4.25 price target.

Sandvine’s market cap is currently C$492.1M and has a P/E ratio of 12.1.

Sandvine Corp. develops and markets network equipment and solutions for broadband and wireless operators. It offers services through mobile, DSL, cable, fixed wireless, and FTTx Internet access technologies. The company was founded by Don Bowman, Dave Nicholas Caputo, Tom Donnelly and Brad Siim in 2001 and is headquartered in Waterloo, Canada.

The company’s shares closed on Wednesday at $4.26.