BMO has upgraded Mattr (MATR.TO) to outperform (from market perform) and hiked its price target on the shares by $4.00, to $12.00 after the company posted stronger first-quarter result.
Mattr has gone through some growing pains over the last few years, but management pointed to an improving outlook for 2026, driven in part by a large flexpipe order expected to be delivered in the second half of the year, analyst John Gibson writes.
"Given the improved outlook and inexpensive valuation, we are upgrading the shares to Outperform (Market Perform prior) and increasing our target price to $12 ($8 prior), reflecting 6x 2027 EV/EBITDA."
Price: $11.00, Change: $+1.65, Percent Change: +17.65%