The Globe and Mail reports in its Thursday, Jan. 6, edition that Cormark Securities analyst Gavin Fairweather sees "ample" opportunities for strong returns following a fourth quarter sell-off in Canadian tech stocks brought on by market volatility.
The Globe's David Leeder writes that in a research report released Wednesday, Mr. Fairweather announced his "best stock ideas" for 2022, and of them was Vitalhub. He rates Vitalhub "buy," with a $5.15 share target. Analysts on average target the shares at $4.73.
Mr. Fairweather says in a note: "The demand environment for Vitalhub's patient flow tools remains strong in the United Kingdom and Canada. Vitalhub had a successful Q4 for new contracts and is entering Q1 with a solid pipeline, underpinning our expectation for 15- to 20-per-cent organic growth. The M&A pipeline also remains active, and we expect news on this front in H1/21. We expect further scaling of the business and rising margins to catalyze a significant rerating in the stock."
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