[Delta, British Columbia/Hamburg] The Hamburg based research house SRH AlsterResearch AG has today included the shares of the Canadian special machinery manufacturer EnWave Corporation in its research portfolio.
The company, which is listed on the Canadian TSX Ventures and in Frankfurt, specializes in systems for the gentle and efficient drying of organic materials using its patented microwave vacuum technology REV(TM) (Radiant Energy Vacuum). The process is mainly used in food and pharmaceutical production, in particular for drying cannabis plants for medical applications.
A special feature is that EnWave not only sells its equipment but also ensures a continuous flow of income throughout the entire production period through mostly exclusive royalty payment license agreements. The producers, in turn, receive exclusive territorial protection for their products as a result of the license agreements.
The current customer base includes established brands such as Bonduelle, Merck, Arla Foods, FrieslandCampina, and Aurora Cannabis.
The company also produces dairy snack products through its wholly-owned subsidiary NutraDried(TM), mainly Moon Cheese(R), a popular dry cheese snack distributed in North America mainly through the Costco and Starbucks chains.
Based on a sum-of-the-part analysis and a DCF model, analyst Karsten Rahlf calculates a fair value per share of CAD 2.60. This means that the security last quoted at CAD 1.91 is a clear buy for him.
The complete study is available at the following link (Please note the notes and disclaimer at the end of the document): https://www.alsterresearch.com/download/1305/
About SRH AlsterResearch AG: AlsterResearch focuses on equity research. Currently, more than 70 different shares are covered, the majority as partners in a research joint venture with Norddeutsche Landesbank. The joint portfolio comprises more than 200 German and international stocks. In addition, AlsterResearch helps smaller companies to improve their perception on the capital market and continuously seeks exciting and promising investment opportunities for institutional investors, especially in the small and mid-cap sector. These are regularly presented at investor conferences in Germany and other European countries.
12.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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