Paradigm Capital says Firan Technology has 48 per cent upside

Jul 13 01:07 2018 Print This Article

Firan Technology Group’s (TSX:FTG) quarterly results came in better than expected, says Gabriel Leung, analyst with Beacon Securities, whose client update on Thursday reiterated his “Buy” recommendation with a raised target price of $4.00.

Aerospace and defence electronics supplier Firan Technology reported its Q2 financials on Wednesday, with record sales of $28.9 million, a 13 per cent increase over Q2/17, and featuring a 42 per cent boost in its aerospace segment compared to Q2/17 at $12.7 million.

“The second quarter of 2018 began to demonstrate the earnings benefits from our acquisitions in 2016,” says Brad Bourne, President and CEO, in a statement. “While we continued to experience some increased costs in the quarter related to the transition, we also achieved a dramatic improvement in our net earnings and cash flow.”

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Cantech Letter

Founded in 2008 by Nick Waddell, Cantech Letter is an online magazine focusing on Canadian technology. The site has grown into one of the most popular and respected financial sites in Canada, and was described by Canadian Business Magazine as “one of Canada’s premier technology newsletters”. Waddell, who is Senior Editor, is routinely called on by the mainstream media for perspective on Canadian technology, and has been featured on BNN, CTV News Channel, and the CBC program “The Lang and O’Leary Exchange” in addition to mainstream print media such as The Guardian, The International Business Times, The Globe and Mail, Macleans, The Waterloo Record , Canadian Business, Slate, and Business Insider. You can email Nick at nick@cantechletter.com Cantech Letter is focused on those companies listed on the TSX and TSXV Technology, Cleantech and Life Sciences Sectors. Each year we present the Cantech Letter Awards, which honor Canada’s Top Technology Stock and Top Technology Stock Executive.

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