Look for continued growth when Axia NetMedia (Axia NetMedia Stock Quote, Chart, News: TSX:AXX) reports later this week, says Cantor Fitzgerald analyst Justin Kew.

On Thursday March 5th, Axia NetMedia will report its fourth quarter and fiscal 2014 results.

Kew says he expects the company will post EBITDA of $8.4-million on revenue of $15.1-million, and he expects customer connection growth will be strong.

“This quarter we will be looking for continued customer connection growth, in 20% YoY range,” said Kew. “We are also focused on mid-term opportunities in France including the recently announced Seine-et-Marne contract. We believe that the recent Seine-et-Marne win demonstrates Covage’s competitiveness and we expect additional wins as the French federal government fulfill their commitment to provide broadband infrastructure to 100% of homes and businesses by 2022.”

Calgary-based Axia NetMedia designs and builds fibre based internet and data networks, often to remote communities. The company’s operations largely take place in North America and in France, where its subsidiary Covage is partnered with the locally owned and operated VINCI Networks.

In a research update to clients this morning, Kew maintained his “Buy” rating and one year target of $4.80 on Axia NetMedia, implying a return of 41% at the time of publication. Kew explains that his target is based on the company’s 50% ownership stake in Covage and a sum-of-the-parts assessment of its North American business.

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