The Globe and Mail reports in its Tuesday, Sept. 15, edition that National Bank Financial analyst Doug Taylor is keeping his "outperform" call on Descartes Systems Group intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Taylor advanced his share target to $100 from $95 (all figures U.S.). Mr. Taylor says in a note: "Q2 reinforced our view that Descartes can sustain high-single-digit organic growth and compound it through disciplined M&A while maintaining exceptional margins, warranting a premium valuation. We maintain our rating, reflecting model roll and as we bake in recent strong capital deployment. This equates to an unchanged 17.5 times NTM+1 EBITDA. Descartes remains a top idea in our coverage universe." The Globe reported on July 22 that Mr. Taylor commenced coverage on Descartes Systems Group with an "outperform" rating and a $95 share target. The shares could then be had for $68.10.
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