Opinions
Brian Madden
Intertape Polymer Group
ITP-T
COMMENT
Dec 07, 2016
Stock price when the opinion was issued
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They have done a great job under the new management team that came in in 2011. He is intrigued by the turnaround in the business, but is concerned that they are a number 2 player in a market dominated by MMM-N. It is liable to be crushed. It is also very cyclical and although the environment in the US is good right now, their margins would suffer in a downturn. The risk/reward is just not there for him.