It has struggled in the past, but Industrial Alliance Securities analyst Blair Abernethy thinks NexJ Systems (TSX:NXJ) is ready for its closeup. In a research report to clients today, Abernethy initiated coverage of NexJ with a "Speculative Buy" rating and a one-year price target of $4.50, implying a return of 99.1 per cent at the time of publication. Abernethy says NexJ, a provider of integrated and scalable CRM systems, has a stable core business with room for organic growth. He notes the company has had success in the wealth management vertical and is beginning to gain traction in adjacent markets such as corporate and commercial banking, insurance, and the capital markets. He also thinks the company's CDAi product is an emerging Artificial Intelligence offering that could drive the company's topline. Abernethy says NexJ is at an inflection point. "While NexJ has struggled to grow consistently in recent years, we believe the Company is now in the early stages of a long-term sustainable growth opportunity, with a shift towards a greater mix of recurring revenue," the analyst says. "We believe NexJ has built a valuable product set that addresses the needs of financial services and insurance companies, and now has the opportunity to significantly expand its TAM and customer base with its new CDAi product. In our view, NexJ’s existing recurring revenue base and proven products provide a floor for the investor, while the new CDAi product provides significant upside potential with the application of AI and ML technologies." Abernethy thinks NexJ will generate EBITDA of $100,000 on revenue of $27.6-million in fiscal 2017. He expects those numbers will improve to EBITDA of $2.0-million on a topline of $31.2-million the following year.