03:48:52 EDT Sun 25 Sep 2022
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Converge Technology Solutions Corp
Symbol CTS
Shares Issued 214,896,369
Close 2022-03-24 C$ 10.11
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Globe says Converge Technology maintained at "buy"

2022-03-25 09:39 ET - In the News

The Globe and Mail reports in its Friday, March 25, edition that Canaccord Genuity analyst Robert Young has reiterated his "buy" recommendation for Converge Technology Solutions. The Globe's David Leeder writes in the Eye On Equities column that Mr. Young boosted his share target by a loonie to $14. Analysts on average target the shares at $13.83. Mr. Young says in a note: "Converge exited 2021 with a strong Q4, in line with preannounced figures, driven by a very strong demand environment partly dampened by continued supply chain headwinds. Management expects demand surpassing fulfillment to inflate the backlog further in Q1 with conversion more likely to materialize in H2/22. Management suggested that organic growth could eclipse 20 per cent (from 9.6 per cent in 2021) if the backlog reverts to more normal levels." The Globe reported on Nov. 16 that Mr. Young had reaffirmed his "buy" call for Converge when its shares could be had for $11.46. The Globe reported on Jan. 5 that Echelon Capital Markets analyst Rob Goff had returned Converge Technology to the firm's "Top Picks Portfolio." The shares were then worth $10.83.

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