Monday, 5 May 2014

Global Maxfin Initiates Coverage On FLYHT: Analyst Count Continues to Grow

FLY:TSX.V

Toronto based Global Maxfin Special Situations Analyst Joe MacKay has initiated coverage on FLYHT Aerospace with a Strong Buy and a $1 target price.

Key highlights from the report include:
  • FLYHT has developed strategic relationships with L-3/Airbus, NetJets, Datang, Mobile/COMAC, SKYBLUE Technology development (SKYBLUE).
  • The number of patents in place and the complex and costly certification process create high barriers to entry.
  • Forecasted revenue of $13.9M and $26.6M in 2014E and 2015E, respectively,
  • EBITDA of $0.2M and 5.8M for 2014E and 2015E, respectively and EPS breakeven in 2014E and $0.03 for 2015E.
Upcoming catalysts include:
  • Material sales to L-3/Airbus,
  • Further progress with SKYBLUE in implementing China’s SATCOM mandate, and the production of the AFJ21.
He adds, “We are also looking for updates on FLYHT expanding its products to additional businesses and commercial aircraft OEMs. With the disappearance of Malaysia Airlines Flight 370, we will be monitoring regulatory developments with respect to the streaming of black box data.”

The report is titled “The Connected Aircraft” and was distributed to Global Maxfin clients and is available online, click here.  Joe MacKay can be reached at 647.776.1750 or by email at joem@globalmci.com.

Global Maxfin coverage adds to a growing list of firms covering FLYHT. Others include Byron Capital (Strong Buy - $1.25 Target), Clarus Securities (Spec Buy - $1.10 Target) and Salmon Partners.

About Global Maxfin Capital Inc.

Global Maxfin Capital Inc. (GMCI) is a Toronto-based full service investment dealer providing merger and acquisition advisory, capital raising service to middle market and emerging growth companies in the technology, telecommunications & industrial sectors in Canada.

http://www.globalmci.com/

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