Pason Systems (PSI) Receives a Buy from National Bank

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Pason Systems (PSIResearch Report). Analyst Greg Colman from National Bank rated Pason Systems (PSIResearch Report) a Buy today, setting a C$22.25 price target.

Colman has an average return of 1.2% when recommending Pason Systems.

According to TipRanks.com, Colman is ranked #4975 out of 5247 analysts.

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Pason Systems has an analyst consensus of Strong Buy, with a price target consensus of C$22.92, a 38.4% upside from current levels. In a report released today, CIBC also reiterated a Buy rating on the stock with a C$24 price target.

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Based on Pason Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$19.04 million. In comparison, last year the company had a net profit of C$5.48 million.

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 on Friday at C$16.56.