In a report released today, Scott Buck from H.C. Wainwright reiterated a Buy rating on Xtract One (XTRA – Research Report), with a price target of C$1.00.
Scott Buck has given his Buy rating due to a combination of factors that suggest a promising outlook for Xtract One Technologies. The company’s recent quarterly results showed a significant increase in revenue and a record level of new bookings, indicating strong demand across various sectors beyond just sports and entertainment. This expansion into manufacturing, healthcare, and education sectors is expected to drive substantial revenue growth in the second half of fiscal year 2025.
Additionally, Xtract One’s partnerships are beginning to yield significant revenue opportunities, positioning the company towards achieving breakeven by the fourth quarter of fiscal year 2025 and potentially reaching profitability in fiscal year 2026. Despite a decline in share price, the current valuation presents an attractive opportunity for investors to acquire shares before the anticipated stronger financial performance materializes. Therefore, Scott Buck maintains a Buy rating with a price target of C$1.00.