UPDATE: CK Cooper & Company Initiates API Technologies at Buy on Diversification

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CK Cooper & Company initiated coverage on API Technologies
ATNY
with a Buy rating and a $4 price target. CK Cooper & Company noted, "The product portfolio offered by the Company includes ruggedized, MIL-SPEC products that meet military requirement and other certifications. In addition, ~90% of the Company's products are sourced into a variety of space and military platforms that offer recurring revenues as the Company receives follow-on orders. The Company has a diverse customer base due to multiple applications of products across other industries. We believe the Company is well-positioned strategically and programmatically as no program/platform accounts for more than 3.5% of total revenues and no customer accounts for over 7% of total revenues." API Technologies closed at $2.72 on Monday.
Posted In: Analyst ColorInitiationIntraday UpdateAnalyst RatingsCK Cooper & Company
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