LONDON, May 6, 2015 /PRNewswire/ --
Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Track Group
Highlights of the analysis on Track Group by Edison's technology analysts Tom Grady and Katherine Thompson include:
Track Group develops and provides end-to-end B2B and B2G tracking solutions that combine real-time tracking devices and monitoring services with advanced data analytics for the global offender management market. However, healthcare monitoring, asset tracking and data analytics are key opportunities for growth.
Our reverse DCF suggests that the current valuation prices in a revenue CAGR of 15.5% to c $100m in 2025 with EBITDA margins reaching 25% at this time. To put this into context, we believe this could be achieved through securing three or four significant contracts similar in size to Chile over the next 10 years. The securing of further national/state-wide deals are therefore a key catalyst, in that they could put Track Group ahead of this growth curve and further improve commercial credentials. Our forecasts assume the $30m of debt that matures over the next 12 months will be refinanced.
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For more information please contact:
Tom Grady, Edison Investment Research, +44(0)20-3077-5767
Katherine Thompson, Edison Investment Research, +44(0)20-3077-5730 firstname.lastname@example.org
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