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EBIX

Ebix

$46.16

0.15 (0.33%)

08:49
01/11/19
01/11
08:49
01/11/19
08:49

Ebix shares should be owned into 2019, says Craig-Hallum

Craig-Hallum analyst Jeff Van Rhee tells investors in a research note that Ebix shares are a "coiled spring" and should be owned entering 2019. The analyst has a Buy rating and $110 price target on shares.

EBIX Ebix
$46.16

0.15 (0.33%)

09/26/18
BMOC
09/26/18
INITIATION
Target $85
BMOC
Market Perform
Ebix initiated with a Market Perform at BMO Capital
BMO Capital started Ebix with a Market Perform rating and $85 price target.
09/26/18
BMOC
09/26/18
INITIATION
Target $85
BMOC
Market Perform
Ebix initiated with a Market Perform at BMO Capital
As reported earlier, BMO Capital analyst James Fotheringham initiated Ebix with a Market Perform rating and a price target of $85. The analyst says the company's valuation appears "full" and its business model offers "below-average potential to surprise positively with respect to revenue growth". If it does grow above expectations, Fotheringham states the upside would most likely come from the company's "potential to continue to grow by acquisition, as well as by its exposure to fast-growing international markets" like India and Brazil.
10/08/18
MAXM
10/08/18
NO CHANGE
Target $113
MAXM
Buy
Ebix pullback on auditor change overreaction a buying opportunity, says Maxim
Maxim analyst Allen Klee thinks the market is overreacting to Ebix's announcement that it will be changing auditors, noting that his understanding is that the company is required to use an Indian auditor given that India has become a majority of its revenue. He also noted that the company said it plans to engage a "Big 4" auditor for all operations in 2019. He sees the pullback on the auditor change news creating a "compelling" buying opportunity and keeps a Buy rating and $113 price target on Ebix shares, which are down 13% to $62.72 in early afternoon trading.
10/08/18
CHLM
10/08/18
NO CHANGE
Target $110
CHLM
Buy
Ebix share drop a buying opportunity, says Craig-Hallum
Noting that the company has announced that it will be changing auditors, Craig-Hallum analyst Jeff Van Rhee says his opinion on Ebix is unchanged. While a negative reaction to the auditor change headline is to be expected, the magnitude of the reaction appears to be misguided, he contends. The analyst points out that there is no difference of opinion on numbers, the company appears to be seeking and on a path to a "Big Four" auditor, and a second half of 2019 IPO timeline for EbixCash appears to be intact. He reiterates a Buy rating and $110 price target on the shares.

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