Blackline Safety (BLN.TO) had its target price and Outperform rating confirmed by National Bank of Canada following the company's $27 million private placement.
The bank, which said it believes Blackline can set up a new production line in the U.S, despite the risk of tariffs under the new administration, confirmed the target price at $7.50 after having raised it from $6.50 a week ago. National Bank also noted that Blackline's devices are collecting a significant amount of data that has the potential to be monetized.
"We believe Blackline's technical edge comes from its connectivity that enables flows of data for greater visibility of employee activities and their work environment," said National Bank of Canada analyst John Shao in a note released on Thursday.
Shares of the company were last seen up $0.05, or 0.7%, at $6.85 in early morning trade on the Toronto Stock Exchange.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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