UPDATE: Helios Tech (HLIO) PT Raised to $77 as Stifel Awaits Evidence of Intiative Success to Upgrade

March 24, 2021 7:05 AM EDT
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Price: $79.02 +2.50%

Rating Summary:
    1 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - March 24, 2021 8:49 AM EDT)

Stifel analyst Nathan Jones raised the price target on Helios Tech (NASDAQ: HLIO) to $77.00 (from $72.00) while maintaining a Hold rating noting that the company is taking internal steps to take advantage of the acquisitions and organic investments of the last several years to drive growth by expanding its addressable market and taking share.

The analyst stated "Over the last ~5 years, Helios has evolved from a component (CVT) supplier to a subsystem provider through the acquisition of Enovation Controls, the Faster Group, Balboa, and other smaller acquisitions. Leveraging technologies across the portfolio to create new products and open new markets is expected to expand Helios' addressable market, and the company has had some solid early success on this front (e.g. recently announced win with John Deere). In its Electronics business, Helios jettisoned an exclusive customer contract which has dragged on growth for the last couple of years but is expected to result in higher revenue from other customers. Helios has contracts in hand to sell these products to other customers beginning in 2021 and ramping up over the next couple of years, this growth
is to come but is not speculative."


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