The Globe and Mail reports in its Wednesday, Jan. 5, edition that Echelon Capital Markets analyst Rob Goff has returned Converge Technology Solutions to the firm's "Top Picks Portfolio" on Tuesday. The Globe's David Leeder writes in the Eye On Equities column that Mr. Goff has a "speculative buy" recommendation on Converge Technology and a $14.50 share target. Analysts on average target the shares at $13.60. Mr. Goff says in a note: "We are fully confident that Converge will emerge stronger from supply chain pains, where its scale strengthens its organic prospects given the prospects for ongoing supply concerns with customers where Converge's supplier contracts represent a competitive advantage and where it can arguably leverage its position to complete acquisitions where prospective acquisitions have been impacted to a greater degree by supply constraints. We would look for one deal in Q122 to kickstart the calendar year, with a robust pipeline to follow. ... We look for Converge to move forward executing against its deep pipeline of strategic, accretive acquisitions. We could see the current supply chain issuers encouraging smaller providers to pursue an exit."
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