Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF)’s growing expansion into North America and Europe is a good example of its strong relationships, according to Shore Capital.
However, the broker did not change its forecasts “until more detail is heard during the upcoming results,” which are due to be released on 13 September, maintaining its buy at 576p.
Analysts at the bank said it previously upgraded its forecasts following interims in March, with management guidance in updates since then remaining unchanged.
Shore Cap also said that while the share price has fallen almost 30% in the year so far, much of this is down to caution within the group’s end market.
“We continue to remain optimistic about the opportunities for accesso which we as underpinned by global trends driving eCommerce adoption across consumer venues,” analysts added in the note.
Additionally, accesso’s technology becomes important to its client’s distribution and engagement strategy and in reducing operational costs, reflected in its roughly 75% recurring revenue.
Earlier today, accesso said it signed a five year-agreement with Parques Reunidos, an operator of more than 50 theme parks and attractions globally, to provide queue management services.
According to a statement, the global ticketing and virtual queuing provider extended its partnership with Reunidos, which was in place since 2012.
The new agreement includes implementing accesso’s platform, LoQueue, across two locations in North America and four in Europe this year.