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Dougherty & Co Starts Sysorex Global Holdings (SYRX) at Buy

April 23, 2014 10:04 AM EDT
Get Alerts SYRX Hot Sheet
Price: $0.24 --0%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 12 | New: 43
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Dougherty & Co initiates coverage on Sysorex Global Holdings (NASDAQ: SYRX) with a Buy rating and a price target of $8.00. Analyst Joe Maxa thinks the company is well positioned for "significant growth."

"We are initiating coverage on SYRX with a Buy Rating and $8.00 Price Target (~15x FY15 EBITDA; ~20x FY15 pro forma EPS). Sysorex, historically a provider of IT solutions to the U.S. Government, recently implemented a growth strategy to acquire complementary technologies and services (targeting high growth markets such as Mobile/BYOD Security, Cybersecurity and Big Data Analytics) that it can leverage across an expanding base of government and commercial enterprise customers. Sysorex acquired three companies since March 1, 2013 including Lilien Systems, Shoom Inc., and AirPatrol Corporation," said Maxa.

"We believe the IP and technical expertise acquired through these acquisitions, coupled with strong cross‐selling synergies, an experienced management team, and an expanding sales channel will enable the company to dramatically grow its business with increasing profitability going forward," he added.

For an analyst ratings summary and ratings history on Sysorex Global Holdings click here. For more ratings news on Sysorex Global Holdings click here.

Shares of Sysorex Global Holdings closed at $5.25 yesterday.



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