Q: Lumine stock has increased decently in price in the last month. Is it best to wait for a pullback or purchase now? Thanks
5i Research Answer:
Price predictions are difficult, moreso going into year end. LMN finally received some brokerage coverage (TD, target $28) and it has had a very good run in November. We think it likely will consolidate its gains, but at the same time it is a solid long term growth story, with 99% revenue gains last quarter (with acquisitions). We consider it a buy-and-hold stock, and would be fine buying a partial position, then filling the position on any weakness to the $21 to $22 area.