While noting that total debt to EBITDA is below 3.6 times, the firm said the management is confident of achieving a comfortable level of leverage in six to nine months to warrant consideration of a dividend and more active share repurchase plan.
Accordingly, Kansas City Capital maintained its Outperform rating on the shares of the company and lifted its price target from $18 to $22.
The firm noted that the company reported quarterly revenues above its expectations, with better than expected feed margins.
4/5 – IRISH TIMES — — — — — Gary Harding and James Mc Guire, two young men from Dublin, have made a substantial impact with their synth speckled, indie guitar drenched pop-rock since their birth in late 2013.
The pair, who play live as a four-piece, have headlined sold out Dublin shows, made notable festival appearances and have been invited to support Echo & The Bunnymen, White Lies, St. Substantial national and regional airplay of their two Stephen Lipson produced EP’s followed, in addition to national TV and critical acclaim.
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