The Globe and Mail reports in its Saturday, March 25, edition that Eight Capital analyst Adhir Kadve has reiterated his "buy" recommendation for Mogo. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kadve raised his share target to $3 from $2.50. Analysts on average target the shares at $2.25.
Mr. Kadve says in a note: "[Thursday], Mogo reported results which came in ahead of consensus with a top-line beat and adjusted EBITDA that was stronger. Importantly, the company posted positive adjusted EBITDA full year prior to previous expectations. In our view, this displays the significant levers at Mogo's disposal and management's ability to successfully execute its restructuring program. Further, we think this bodes well for Mogo's goal to enhance profitability while also pursuing growth opportunities, with an aim to achieve the 'Rule of 40.' In our view, execution toward this goal will potentially lead to a rerating of Mogo's shares from current levels." The Globe reported on Aug. 13, 2021, Jan. 12, 2022, and March 25, 2022, that Canaccord Genuity analyst Doug Taylor continued to rate Mogo "speculative buy." The shares were then worth $8.03, $3.67 and $3.69.
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