RBC Capital Markets today released their latest broker report on Updater.
They have an outperform on it, with a TP of $2.25.
Their bull case scenario is $4.
Needless to say, they are thorough; the report runs for 34 pages and is very detailed.
They see 876% revenue growth in 2018, slowing to 100% in 2019, and 55% in 2020, with earnings first in positive territory in 2020, and existing capital of $50m plus operating cash flow sufficient to see the co through till then with no need for a cr, unless there are additional acquisitions.
They also see no competitors who have comparable traction in the mover space. They have identified and quantified quite a sizable TAM.
It's Friday night after a longish week, so I'll come back to this report over the next couple of posts. A lot of very solid analysis there.
