TD Upgrades Pason Systems (TSE:PSI) to Buy

Key Points

• TD upgraded Pason Systems from "hold" to Buy and raised its price target to C$18 (from C$13), implying about a 17.2% upside from the current price.
• The stock rallied 12.1% to C$15.36 on heavy volume (467,658 shares vs. a 200,046 average), trading near its one‑year high while the company shows a market cap of C$1.19B and a P/E of 22.6.
• Analyst coverage is mixed—two Buys and two Holds—leaving an average rating of "Moderate Buy" and an average target of C$15.13, while National Bank Financial trimmed its target to C$15.50 with a "sector perform" rating.

Pason Systems (TSE:PSI - Get Free Report) was upgraded by equities research analysts at TD from a "hold" rating to a "buy" rating in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a C$18.00 price objective on the stock, up from their prior price objective of C$13.00. TD's target price points to a potential upside of 17.19% from the company's current price.

Separately, National Bank Financial reduced their target price on Pason Systems from C$17.00 to C$15.50 and set a "sector perform" rating for the company in a report on Friday, January 9th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$15.13.

Pason Systems Stock Up 12.1%

PSI stock traded up C$1.66 on Tuesday, reaching C$15.36. 467,658 shares of the company traded hands, compared to its average volume of 200,046. Pason Systems has a one year low of C$10.95 and a one year high of C$15.37. The company has a debt-to-equity ratio of 10.90, a current ratio of 1.98 and a quick ratio of 3.54. The company has a market cap of C$1.19 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 10.78 and a beta of 0.41. The firm has a fifty day simple moving average of C$13.02 and a 200-day simple moving average of C$12.44.

Pason Systems (TSE:PSI - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported C$0.10 EPS for the quarter. The business had revenue of C$108.71 million during the quarter. Pason Systems had a return on equity of 10.80% and a net margin of 12.68%. Research analysts anticipate that Pason Systems will post 1.229765 earnings per share for the current year.

About Pason Systems

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company's primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.

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