SOURCE: Streetwise Reports

The Energy Report

November 03, 2017 08:45 ET

Streetwise Reports Examines One Analyst's Initiation on Solar Power Firm with 'Strong Backlog Powering Rapid Growth'

SAN FRANCISCO, CA--(Marketwired - November 03, 2017) - Analyst Pardeep Sangha with Haywood Securities explained the investment thesis for this provider of solar power projects to the commercial market.

Included in this article is: UGE International Ltd. (TSX VENTURE: UGE) (OTCQB: UGEIF)

In its Oct. 31 research note, Haywood Securities initiated coverage on UGE International Ltd., with analyst Pardeep Sangha. UGE is "undervalued" and currently trading "below its peer group average," Sangha wrote.

Sangha, who titled the report, "Strong Backlog Powering Rapid Growth," indicated UGE, "one of the leading solar solution providers to mid-scale commercial and industrial clients in Ontario and in the Northeast U.S.," is "at a revenue inflection point and "turning the corner to profitability." The $6.3 million that the company generated in Q2/17, the most recent quarter for which a figure is available, exceeded the amount it generated in all of 2016. Also during that quarter, UGE was EBITDA positive for the first time, an achievement that Sangha said he expects to continue into 2018.

Continue reading this article: Coverage Initiated on Solar Power Firm with 'Strong Backlog Powering Rapid Growth'

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