Q: Hi there, nice to finally see CTS as a top pick on BNN, especially by Jason D.
So far it's been moving hard this year.
Can you comment on its first quarter 2024, what is expected? And is the first quarter typically strong for CTS?
Can you please list all the upgrades/downgrades after last results, along with current/new target prices if possible?
Thanks!
So far it's been moving hard this year.
Can you comment on its first quarter 2024, what is expected? And is the first quarter typically strong for CTS?
Can you please list all the upgrades/downgrades after last results, along with current/new target prices if possible?
Thanks!
5i Research Answer:
Expectations are for 19c EPS and $651M revenue. First quarters are typically good, except for a disaster in 2020 even though Covid started late in the quarter. Current average target from 12 analysts is $6.66 with a high of $9.00 (Eight Capital) and a low of $5.00 (CIBC). The only upgrade after last results (so far) was Raymond James ($6.50 from $5.50). We would expect some more, based on recent results and momentum.