Exfo Inc (EXFO) Gets a Buy Rating from Northland Securities

By Jason Carr

In a report released today, Tim Savageaux from Northland Securities maintained a Buy rating on Exfo Inc (EXFOResearch Report), with a price target of $5.50. The company’s shares opened today at $3.59.

Savageaux noted:

“We maintain our OP rating and $5.50 PT on EXFO shares after an FQ3 that featured strong optical test growth driven by 100G-400G solutions and much better than expected EBITDA on lower opex driven by the company’s recently completed restructuring, and despite a lower than expected top line outlook for FQ4 driven by slowness in carrier spending on the Software/ Service side.”

According to TipRanks.com, Savageaux is a 3-star analyst with an average return of 2.6% and a 50.6% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, DASAN Zhone Solutions Inc, and Applied Optoelectronics.

Currently, the analyst consensus on Exfo Inc is a Moderate Buy with an average price target of $5.50.

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Based on Exfo Inc’s latest earnings release for the quarter ending February 28, the company reported a quarterly net profit of $5.19 million. In comparison, last year the company had a GAAP net loss of $5.97 million.

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EXFO, Inc. engages in the provision of test, monitoring, and analytics solutions for fixed and mobile communications service providers, webscale companies and equipment manufacturers. It offers field network testing, optical benchtop kits, tunable filters, network simulation and load testing, and switch and utility module.