Following two recent acquisitions, Desjardins Securities analyst Gary Ho has raised his price target on Terravest Industries (Terravest Industries Stock Quote, Chart, News, Analysts, Financials TSX:TVK).
As reported by the Globe and Mail, Ho May 5th maintained his “Buy” rating and raised his price target on TVK from $150.00 to $172.00.
The analyst said recent time spent with the company reinforced his belief in it.
“We would categorize the tone from our TVK marketing trip as positive,“ he wrote. ”The EnTrans platform acquisition provides many organic growth vectors—defence contracts, cryogenic trailers, parts and service, leasing opportunities, TANK Ai—that more than justify the 7 times multiple paid in our view. We are introducing FY27 estimates which reflect the full impact from its US$588.6-million DoD contract win. We reiterate TVK as one of our favourite ideas in our coverage.”
After acquiring standby power generation firm Simplex for (US) $28-million on April 30, TerraVest announced the pickup of tank trailer company Tankcom for $27.8-million on May 1.
“I am delighted that TerraVest has chosen to acquire Tankcon, and I look forward to seeing them grow the business to the next level,” said Tankon’s Alain Chatillon. “Tankcon is an important legacy for me, and I am confident it will be a leader for many years to come in the FRP tank trailer industry.”
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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