National Bank Financial Initiates Coverage on GuestLogix with an Outperform Rating - Video Research Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2013) - National Bank Financial has initiated coverage on GuestLogix Inc. (TSX: GXI). Analyst Nikhil Thadani gives the company an outperform rating, and a 12-month target of $1.75, a premium of 48% to the $01.18 price the day the report was issued.
InvestmentPitch.com has produced a "video research alert" about GuestLogix based on the National Bank Financial report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "GuestLogix" in the search box.
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Toronto-based GuestLogix was founded in 2002 and employs 130 people. The company's end-to-end solutions enable airlines and rail operators to process ancillary revenue transactions such as passengers purchasing food and beverage, duty-free goods and ground connections both on-board and off-board.
Transactions can be performed in person via point of sale handheld devices or self serve via seatback screens, airport kiosks, smartphones and tablets. The company is able to process a variety of payment options, including cash, credit cards, debit cards, coupons, and points, with airlines accounting for more than 90% of GuestLogix's revenue.
National Bank believes the company will benefit as airlines and rail operators increasingly adopt on-board and off-board retail to grow ancillary revenue. For example, adoption of in-flight seat upgrade auctions by just 0.1% of GuestLogix's current airline passengers could more than double annual revenue.
Analyst Nikhil Thadani stated, "With the massive organic growth opportunity and clearly defined management focus, we like the odds."
Subsequent to National Bank's report, the company announced a 10-year agreement with NCR Corporation, the global leader in consumer transaction technologies.
Brett Proud, President & CEO stated, "GuestLogix has seen immense trending towards self-service retailing preferences within the travel industry, and we are proud of our ability to support NCR in its continued efforts to lead this charge and enrich the way that travel operators around the world are able to serve their passengers."
The company currently trades at $1.25, below the $1.75 target price, and with 79.7 million shares outstanding, the company is capitalized at $99.6 million. For more information, please visit the company's website www.guestlogix.com or contact Dan Thompson at 416-849-1566 or email firstname.lastname@example.org.
For more information about National Bank Financial or to obtain a copy of their research report, contact your nearest National Bank Financial office. Their branches are listed on their website at www.nbf.ca.
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