The Globe and Mail reports in its Thursday, Aug. 31, edition that iA Capital Markets analyst Neehal Upadhyaya has reaffirmed his "buy" recommendation for Plurilock Security. The Globe's David Leeder writes in the Eye On Equities column that Mr. Upadhyaya gave his share target a 10-cent trim to 50 cents. Analysts on average target the shares at 55 cents. Mr. Upadhyaya says in a note: "Gross margins [in the second quarter] passed the double-digit threshold for the third consecutive quarter and while further work remains to increase the company's margin profile, this is a step in the right direction. However, the true test on margin improvement will be in Q3, which is seasonally the company's strongest quarter in terms of revenue as it coincides with the procurement cycle of U.S. Federal Agencies that are serviced by Plurilock's subsidiary, Aurora Systems Consulting. The sales made to the U.S. federal agencies are typically hardware, which already has lower margins and with contracts being extremely competitive, margins become even thinner." The Globe reported on June 17, 2022, that Mr. Upadhyaya rated Plurilock "buy" in new coverage. His share target then was 65 cents. The shares were then going for 17 cents.