Mix Telematics: Jumps after 5-star analyst raises PT

MiX Telematics

14/06/2018 15:13

** U.S.-listed shares  MIXT.N  of South African fleet
management services provider up 6.2 pct at $18.75; Among top pct
gainers on NYSE
    ** Canaccord Genuity raises PT by $2 to $25, the most
bullish on Wall Street, implies ~42 pct upside to stock's close
on Wednesday; Median PT $22
    ** Anticipates improving adjusted EBITDA margins and free
cash flow driven by continued strong industry growth trends -
analyst Michael Walkley
    ** Adds global rebound in oil & gas could drive low
double-digit subscription revenue growth expectations in 2019
    ** Walkley is rated 5/5 stars by TR StarMine for his
recommendation accuracy on MIXT
    ** "While many fleets contracted in size during the 18-month
downturn in oil & gas activity, we do not believe Mix Telematics
lost material customers," Walkley says
    ** Including session gains, stock up 46 pct this year

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))