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Stock market blues? Two stocks analysts love

The market is tentative and event driven right now.

What did the Fed do? What about the Bank of Canada. What’s going on in China? And what’s going on with interest rates.

Sometimes its better to focus on the actual stock and not the market noise. To that end, we give you two Canadian stocks some of Canada’s best analysts currently think are undervalued.

POPREACH

Its second quarter results are in the books and Eight Capital analyst Adhir Kadve continues to believe there is money to be made on PopReach (PopReach Stock Quote, Chart, News, Analysts, Financials TSXV:POPR).

On August 29, POPR released its Q2, 2023 results. The company posted Adjusted EBITDA of $4.0-million on revenue of $39.1-million a topline that was up 7.1 per cent over the same period last year.

Kadve gave his take on the quarter.

“PopReach reported Q2/F23 results which were largely in-line with Consensus expectations. Early integration of acquired assets continues across the organization with several of the assets leveraging one another’s capabilities and/or technology. As the integration progresses and key synergies materialize, PopReach notes that this should lead to strong cross and upselling opportunities and ultimately allow PopReach to gain greater wallet share from current customer and chase a larger profile of new customers, an important consideration as we head into the seasonally stronger H2 period.”

In a research update to clients August 30, the analyst maintained his “Buy” rating and one-year price target of $0.40 on POPR. The stock closed that day at $0.22.

THERALASE

Following the company’s second quarter results, Research Capital analyst Andre Uddin is maintaining his bullish price target on Theralase (Theralase Stock Quote, Chart, News, Analysts, Financials TSXV:TLT).

On August 29, TLT reported its Q2, 2023 results. For the six month period ended June 30th, the company lost $2.56-million on revenue of $426,087, a topline that was down 23 per cent over the same period last year.

Uddin summed up the quarter.

“TLT reported Q2 results, which are less important at this time as the company’s key value driver, TLD-1433 (Ruvidar) is still in its Phase 2 pivotal trial. We remain bullish on Ruvidar’s ability to treat BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) given the strong data that has continually been relased this past year. We continue to believe that Ruvidar has the potential to achieve a better and longer duration of CR than Merck’s Keytruda. We expect Ruvidar to launch in 2026.”

In a research update to clients August 31, Uddin maintained his “Speculative Buy” rating and one year price target of $0.80 on Theralase, implying a return of 255.6 per cent at the time of publication.

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