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Wildbrain Ltd
Symbol WILD
Shares Issued 171,818,078
Close 2021-02-11 C$ 2.87
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Globe says Galappatthige keeps Wildbrain at "hold"

2021-02-12 06:58 ET - In the News

The Globe and Mail reports in its Friday, Feb. 12, edition that Canaccord Genuity analyst Aravinda Galappatthige believes the outlook for Wildbrain is improving. The Globe's David Leeder writes in the Eye On Equities column that on Wednesday Wildbrain posted revenue of $142.3-million, up 16 per cent year-over-year and ahead of the Street's $134.5-million expectation. Adjusted earnings before interest, taxes, depreciation and amortization rose 14 per cent to $29.1-million, topping the consensus estimate of $25.4-million. Mr. Galappatthige boosted his share target to $2.80 from $1.60, while keeping a "hold" rating. Analysts on average target the shares at $2.36. Mr. Galappatthige says in a note: "With the broad market rally now manifesting sharply in the small cap space, we have seen both Wildbrain and its comps start to participate quite meaningfully. Its closest Canadian comp, Thunderbird Entertainment Group, is up 172 per cent over the last 12 months while the larger Lionsgate is also up strongly of late (up 50 per cent over three months). This together with the steep impact of even moderate changes to valuation multiples of Wildbrain, drives our target price up sharply."

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