Professional
Added to YB: 2024-02-20
Pitch date: 2024-02-19
CTS.TO [bullish]
Converge Technology Solutions Corp.
+35.07%
current return
Author Info
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Company Info
Converge Technology Solutions Corp., together with its subsidiaries, provides software-enabled IT and cloud solutions in the United States, Canada, Germany, rest of Europe, the United Kingdom, and Ireland.
Market Cap
CAD 1.1B
Pitch Price
CAD 4.43
Price Target
9.10 (+52%)
Dividend
1.01%
EV/EBITDA
9.58
P/E
-6.62
EV/Sales
0.49
Sector
IT Services
Category
turnaround
White Falcon Capital: Converge Technology Solutions Corp. - $CTS.TO
CTS.TO fell from C$12 to C$2.50 on halted M&A, high debt & missed margins. Now C$4 (7.2x EV/EBITDA), integrating past buys for mid-2024 cost cuts. Refocused on cash collections vs invoicing. 2024 outlook: better margins, FCF to cut debt & buyback. Upside to 15x P/E.
Read full article (2 min)