04:31:57 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Redknee Solutions Inc
Symbol RKN
Shares Issued 108,514,936
Close 2017-05-31 C$ 0.82
Market Cap C$ 88,982,248
Recent Sedar Documents

Globe says Redknee cut to "neutral" from "outperformer"

2017-06-01 07:44 ET - In the News

The Globe and Mail reports in its Thursday, June 1, edition that CIBC Institutional Equity Research is downgrading Redknee Solutions to "neutral" from "outperformer" and slashing its price target to 85 cents from $3.50 as the company continues to restructure. The Globe's Gillian Livingston writes in the Eye On Equities column that analysts on average target the shares at 92 cents. Analyst Todd Coupland says in a note: "Recent developments, including the ESW Capital-backed rights offering (56-per-cent owner), have steadied Redknee's balance sheet and funded the restructuring and business plan. However, now the long process of restructuring, repairing the business and product offering, and encouraging existing and prospective customers to buy in begins. Interim CEO Danielle Royston, a turnaround specialist and ESW's choice to lead the restructuring and repair of Redknee, has work ahead of her. She has acknowledged that the challenges are material but that they can be overcome with a return to focus on the core business of mobile billing software for carriers." Raymond James analyst Steven Li hiked Redknee to "outperform" from "market perform" in the Eye column on June 2, 2016, when it could be had for $2.05.

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