Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF)’s recent interim results highlighted strong double-digit growth along with improved profitability, underlining the share price potential going forward, said Shore Capital.
The broker noted that the virtual queuing and ticketing group had not seen any negative movement in its marketplace, with revenue forecasts raised for the year though costs will also be higher.
"We upgrade our revenue by 2% to US$135m, however improvement in cash EBITDA is offset by acquisition-related costs and therefore remains at US$19mln, 14% margin.
“Going forward we believe ACSO could continue to build on existing exposure, in particular targeting ski resorts and cross-selling the product set technology is encouraging in our view, and whilst mindful of the uncertainty macro factors, we continue to expect solid cash generation over our forecast period."
Buy with a £9 fair value target, says the broker.