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Avigilon’s new Appearance Search keeps it ahead of the game, says Haywood

Avigilon

Avigilon New technology from Avigilon (Avigilon Stock Quote, Chart, News: TSX:AVO) has Haywood analyst Pardeep Sangha feeling good about the company’s prospects.

Last Friday, Avigilon announced it would preview its news Appearance Search video analytics technology at IFSEC International 2016 (IFSEC) next week.

“Avigilon Appearance Search is a sophisticated search engine for video data,” said CTO Dr. Mahesh Saptharishi. “It empowers security personnel to quickly answer the critical questions — who, what, where and when — with decisive action.”

“Avigilon is leading the market with its new Appearance Search technology,” says Sangha. “Avigilon recently announced it will be showcasing its Appearance Search technology at the IFSEC conference in London, UK. Management expects to be selling Appearance Search in Q4FY16. Appearance Search is a video analytics technology that can quickly and automatically locate persons, vehicles and objects of interest from multiple video data sources.”

HIRE Technologies

In a research update to clients today, Sangha maintained his “Buy” rating and one-year price target of $22.50 on AVO, implying a return of 73.2 per cent at the time of publication.

Sangha says AVO remains undervalued given its growth profile. He notes that the stock is currently trading at 9.8x EV/EBITDA based on his fiscal 2016 forecast, well below its peers which trade at 11.4x EV/EBITDA.

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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