The Globe and Mail reports in its Tuesday, Nov. 28, edition that Paradigm Capital analyst J. Marvin Wolff has reaffirmed his "buy" recommendation for Martinrea International. The Globe's David Leeder writes in the Eye On Equities column that Mr. Wolff cut his share target to $21.50 from $24, after a recent update to his target for Nanoxplore. Martinrea holds a 22.7-per-cent interest in the Montreal-based carbon and graphite product manufacturing company, which recently unveiled a large-scale dry process for manufacturing graphene.
Mr. Wolff says in a note: "Martinrea provides an earnings growth play in the auto parts sector with growth on several fronts: new mandate wins; margin expansion from both higher margins on light-weighting solutions; and operating cost efficiencies. We see Martinrea being able to increase profits substantially over the next two years, plus any share price contribution from Nanoxplore. We expect Voltaxplore, will announce plans to build a 2 GW battery plant in the next few week." The Globe reported on Oct. 20 that RBC Dominion Securities analyst Paul Quinn continued to rate Martinrea "outperform." It was then worth $14.20.
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