On Wednesday, August 9, Avigilon will report its Q2, 2017 results. Sangha thinks the company will post Adjusted EBITDA of $14.3-million on revenue of $100.2-million. He is slightly more optimistic than the street consensus of $13.2-million in EBITDA on a topline of $97.9-million.
The analyst says recent softness in the company’s share price is a chance for investors to get in on a name he thinks is undervalued.
“Avigilon’s share price has decreased 12% over the past 90 days, which we believe is a buying opportunity,” Sangha says. “Avigilon is currently trading at 9.3x EV/EBITDA of our CY17 estimates, which is below the peer group average of 14.6x EV/EBITDA of CY17 consensus estimates.”
In a research update to clients today, Sangha maintained his “Buy” rating and one-year price target of $25.00 on Avigilon, implying a return of 71.1 per cent at the time of publication.
Sangha thinks Avigilon will generate EBITDA of $66.6 per cent on revenue of $417.5-million in fiscal 2017. He expects those numbers will improve to EBITDA of $86.7-million on a topline of $478.0-million the following year.
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