Stock price when the opinion was issued
He likes the space “the Internet of things” that this is in. This has about 38% of the business in Canada and he thinks it is going to keep growing. It is in the right sector, between the pro-growth and the defensive. They just had a fantastic quarter and caught the street off guard. Sees this having a double from here. The next resistance is around $46, and he thinks it is taking out the $58 at some point. (Analysts’ price target is $29.50.)
This company reinvented itself a number of times over the years. They are a technology hardware manufacturer. This is best summed up by calling them an “Internet of things”, for all kinds of devices. From a long-term perspective, it is subject to the vagaries of the product cycle and technological obsolescence. He doesn’t care for the volatility and prefers others.