Mining & Metals
Earnings Flash (PSI.TO) Pason Systems Reports Q1 Total Revenue $102.4M, Down 9% YoY
$PSI.TO
$PSI.TO
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Research
Pason Systems Upgraded to Buy at TD
Pason Systems Inc. (PSI.TO) was upgraded to Buy from Hold at TD Securities on Tuesday.Analyst Aaron MacNeil increased his price target on shares of the Calgary-based provider of instrumentation and data management systems for drilling rigs to $18 from $13 ahead of its Q1 results on May 7."Our Energy Services coverage is at a positive inflection point amid strong commodity prices, although many stocks have already re-rated," MacNeil said in a note to clients."However, Pason has lagged despite its many positive attributes, including its high barriers to entry, strong operating leverage, low sustaining CapEx commitments, low debt and attractive yield," the analyst said."This disconnect drives our upgrade to Buy."
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