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Converge Technology Solutions Corp
Symbol CTS
Shares Issued 214,896,369
Close 2022-04-28 C$ 9.05
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Globe says "plenty of upside" seen at Converge Tech

2022-04-28 09:21 ET - In the News

The Globe and Mail reports in its Thursday, April 28, edition that National Bank analyst John Shao thinks Converge Technology Solutions "still has plenty of upside." The Globe's David Leeder writes in the Eye On Equities column that Mr. Shao, in a research report titled "Unlocking Value," began coverage of the Toronto-based information technology solution provider with an "outperform" rating. He says the shares are trading at a discount. Accordingly, he set a $14 share target for Converge. Analysts on average target the shares at $13.88. Mr. Shao says in a note: "Unlike other ITSPs, Converge is one of the few consolidators in a highly segmented market where customer demands are getting increasingly complex. That said, while acquisition has been one of the drivers, we'd also see a scaling organic growth potential as the company leverages its comprehensive platform of products and services to target SMBs who are underserved. With 85 data scientists and 103 security architects (average 15 years of experience each), we believe Converge is well-positioned to transform the ITSP market with its managed and consulting services to add value to its customers."

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