The Globe and Mail reports in its Wednesday, Jan. 29, edition that Paradigm Capital analyst Kevin Krishnaratne is bullish on the technology sector. The Globe's David Leeder writes that accordingly, Mr. Krishnaratne continues to rate Absolute Software "buy," while elevating his share target to $10 from $9. Analysts on average target the shares at $9.67.
Mr. Krishnaratne says in a note: "Following several quarters in 2019 that demonstrated positive momentum in Enterprise growing 10 per cent and better-than-expected margin trends, we upgraded ABT to a Buy in mid-August, and the stock is up 25 per cent since. We see further upside and raise our target to $10 as we continue to remain bullish on both the company and the cybersecurity industry overall." The Globe reported on Feb. 6, 2019, that Canaccord Doug Taylor maintained his "hold" on Absolute Software when it was worth $8.49. In the same item, Mr. Krishnaratne kept his "hold" rating while hiking his share target to $8.50 from $8. The analyst said the trends for Absolute were "moving in the right direction." The Globe's guest columnist Norman Rothery said Absolute had decent fundamentals in the Number Cruncher column on July 16, 2019. It was then worth $7.84.
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