Northland Capital Remains Bullish on On Track Innovations (OTIV) as they Enter the Japanese Market

Northland Capital Markets reiterates an Outperform and $3.50 price target on On Track Innovations (NASDAQ: OTIV) as OTIV enters the Japanese Market. Analyst Michael Latimore says that OTIV announced that Japan-based Billing System Corp. will resell products into the Japan market.

Latimore commented, "Yesterday, oti announced that Japan-based Billing System Corp. will resell oti products into the Japan market. Japan has about five mil vending machines, and basically none accept NFC-based mobile payments. With Apple and Google Pay launched and supporting NFC, a large opportunity exists for oti. This new channel could lead to 4Q orders we believe. Separately, we remain comfortable with our 2Q estimates."

For an analyst ratings summary and ratings history on On Track Innovations click here. For more ratings news on On Track Innovations click here.

Shares of On Track Innovations closed at $1.52 yesterday.

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