Mackie Research Initiates Coverage on Pure Technologies (TSX:PUR) with a Buy Recommendation - Video Summary on InvestmentPitch.com
(Thomson Reuters ONE) -
1Vancouver, British Columbia, May 27, 2013 - Investment firm Mackie Research has
initiated coverage on Pure Technologies (TSX:PUR). Analyst Raveel Afzaal gives
the company a buy recommendation with a 12-month target price of $5.40, a
premium of 14% over the $4.75 price the day the report was issued.
InvestmentPitch.com has produced a "video news alert" about Pure Technologies
based on this research report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "Pure Technologies" in the search box.
Pure Technologies offers a comprehensive suite of innovative technologies and
services for inspection, monitoring, and management of physical infrastructure
with a primary focus on water, wastewater and oil and gas pipelines markets.
A significant portion of the global infrastructure, particularly water and
wastewater pipelines built in the middle of the 19th century, are fast
approaching the end of their useful lives.
To date, the company has recorded revenues from more than 50 countries, with
approximately 64% of the annual revenues coming from North America. The company
has a sales backlog of more than $53 million, which does not include recurring
annual revenues of about $6 million.
"Our Company had a solid first quarter, with the Core Americas market performing
above expectations," stated Jamie Paulson, Chairman. "The Company continues to
move its product offering forward in all markets."
The company is monitoring more than 927 kilometres of large-diameter pre-
stressed concrete water pipes, a record distance to date, using the company's
acoustic fibre-optic monitoring technology.
It also has a strong balance sheet with $29 million in cash and no debt. This
puts Pure Technologies in an enviable position to make strategic acquisitions
and pursue organic growth opportunities in a time when access to funding from
capital markets remains difficult.
Analyst Raveel Afzaal stated, "We consider Pure Technologies as an excellent
vehicle for investors desiring exposure to the fast-growing infrastructure
renewal market. There is significant room for upside to our target price as Pure
Technologies continues to benefit from economies of scale and delivers strong
EBITDA growth."
The shares are currently trading at $4.80, and with 50.7 million shares
outstanding, the company is capitalized at $243 million. This is below Mackie
Research's target price of $5.40.
For more information, please visit the company's website www.PureTechLtd.com or
contact Paul Moon, Investor Relations Manager at 403-266-6794 or email
investor.relations(at)PureTechLtd.com.
For more information about Mackie Research or to obtain the report on Pure
Technologies, contact your nearest Mackie Research office. Their branches are
listed on their website at www.mackieresearch.com.
About InvestmentPitch
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multiple platforms to investors and financial professionals, specializes in
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 27.05.2013 - 22:49 Uhr
Sprache: Deutsch
News-ID 263659
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