DA Davidson Starts CPI Card Group (PMTS) at Buy

DA Davidson analyst Peter Heckmann initiates coverage on CPI Card Group (NASDAQ: PMTS) with a Buy rating and a price target of $36.00.

The analyst comments "With a strong and rising domestic market share, several industry tailwinds, a forecast for high single digit growth in adjusted EBITDA and free cash flow, and falling net financial leverage, we think CPI Card is attractively valued at an enterprise value of ~5.6 times our 2026 adjusted EBITDA forecast of $109M. We are initiating coverage of CPI with a BUY rating and a $36 price target, which represents an enterprise value of 6.5x our 2026 adjusted EBITDA forecast."

For an analyst ratings summary and ratings history on CPI Card Group click here. For more ratings news on CPI Card Group click here.

Shares of CPI Card Group closed at $27.75 yesterday.

You May Also Be Interested In

• CFRA Starts SpaceX (SPCX) at Sell, 'Our primary concern is that SpaceX’s long-term strategy remains heavily dependent on Starship'
• Nutrien warns shareholders about below-market mini-tender offer
• Circle board member resigns after nearly 13 years of service