Analyst Nicholas Cortellucci of Atrium Research maintained a Buy rating on BQE Water, retaining the price target of C$80.00.
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Nicholas Cortellucci has given his Buy rating due to a combination of factors including BQE Water’s impressive financial performance in the second quarter. The company reported significant growth in its technical services segment, with a tenfold increase in revenue year-over-year, which was a major contributor to the overall revenue of $12.9 million, surpassing the initial estimate of $7.2 million.
Furthermore, BQE Water has shown promising prospects for the latter half of the year, with several projects in Canada, the U.S., and China advancing to the commissioning stage. This strong outlook, coupled with the company’s ability to consistently exceed expectations, supports the Buy rating and the target price of $80.00 per share.
According to TipRanks, Cortellucci is an analyst with an average return of -8.1% and a 23.68% success rate.