Electro Optic Systems initiated with a Buy at Canaccord

Canaccord analyst Annabelle Holden initiated coverage of Electro Optic Systems with a Buy rating and A$1.40 price target. The business has implemented a cost restructuring program, ceased investment in its unprofitable Space Link venture, renegotiated its major Middle Eastern contract and signed three large contracts under new leadership, notes the analyst, who points to these as evidence of successful strategy execution under the new team.