National Bank of Canada overnight Thursday said Blackline Safety (BLN.TO) more than offset the loss from fourth quarter product revenue miss through gross margin expansion and capital discipline, resulting in better-than-expected adjusted EBITDA.
The investment bank believes outperform-rated Blackline is set to achieve consistent market share gains while strengthening its market leadership through continued investments and raised its target price to $7.50 from $6.50.
However the bank pointed out delayed deals from geopolitical uncertainties and potential tariffs create unnecessary "noise," which tends to increase stock volatility. "If anything, we believe such volatility could present an opportunity for new investors in the near term. In the longer term, we remain optimistic about a company with solid execution and significant growth opportunities ahead," commented National Bank of Canada analyst John Shao.
Shares of the company were last seen down $0.02 to $6.55 on the Toronto Stock Exchange.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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