Market Overview

UPDATE: Canaccord Genuity Initiates Numerex to Buy on Growth Momentum

Related NMRX
Numerex Announces Agreement With Viex Capital Advisors Concerning Board Seats
Earnings Scheduled For March 14, 2016

Canaccord Genuity initiated coverage on Numerex (NASDAQ: NMRX) with a Buy rating and a $15 price target.

Canaccord Genuity noted, "We forecast strong M2M market growth over the next decade across a wide range of M2M vertical markets. Further, we believe Numerex's vertically integrated Device Network Application (DNA) M2M offering is well positioned in key verticals such as security, remote monitoring, and asset tracking and should grow in line with our 25% M2M unit growth CAGR estimate over the next several years. With our expectation an increasing mix of recurring services revenue should drive considerable operating leverage from Numerex's prior infrastructure and platform R&D investments, we believe Numerex should post strong sales and earnings growth."

Numerex closed at $11.41 on Monday.

Latest Ratings for NMRX

May 2016Canaccord GenuityDowngradesBuyHold
Apr 2016B. RileyInitiates Coverage onBuy
Mar 2016Canaccord GenuityMaintainsBuy

View More Analyst Ratings for NMRX
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Initiation Pre-Market Outlook Analyst Ratings


Related Articles (NMRX)

View Comments and Join the Discussion!