Northland Securities Believes Exfo (NASDAQ: EXFO) Still Has Room to Grow

By Carrie Williams

In a report released today, Tim Savageaux from Northland Securities maintained a Buy rating on Exfo (EXFOResearch Report), with a price target of $6.00. The company’s shares closed last Wednesday at $4.39, close to its 52-week high of $4.69.

According to, Savageaux is a 5-star analyst with an average return of 26.3% and a 66.0% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Exfo with a $4.29 average price target.

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Exfo’s market cap is currently $251.7M and has a P/E ratio of -43.80. The company has a Price to Book ratio of 2.01.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EXFO in relation to earlier this year.

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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. The company was founded by Germain Lamonde on September 18, 1985 and is headquartered in Quebec, Canada.