National Bank Thinks Pason Systems’ Stock is Going to Recover

By Jason Carr

Pason Systems (PSIResearch Report), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Greg Colman from National Bank remains bullish on the stock and has a C$21 price target.

According to TipRanks.com, Colman is ranked #4962 out of 5232 analysts.

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Pason Systems has an analyst consensus of Strong Buy, with a price target consensus of C$22.63, implying a 38.7% upside from current levels. In a report issued on August 9, CIBC also reiterated a Buy rating on the stock with a C$24 price target.

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The company has a one-year high of C$24.57 and a one-year low of C$16.30. Currently, Pason Systems has an average volume of 163K.

Pason Systems, Inc. engages in the design and production of instrumentation and data management systems for drilling rigs. It operates through the following geographical segments: Canada, the United States, and International.

The company’s shares closed last Thursday at C$16.34, close to its 52-week low of C$16.30.