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Accesso Technology: Canaccord repeats buy rating ahead of results

Last updated: 07:00 19 Mar 2014 EDT, First published: 08:00 19 Mar 2014 EDT

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Accesso Technology (LON:ACSO) continues to take market share in an area that is becoming increasingly attractive to theme parks and other attractions, says City firm Canaccord Genuity.

The company’s ticketing and queuing solutions help operators such as Six Flags and Wet ‘n’ Wild save their visitors time for a more enjoyable experience.

The fact park customers can organise most of their day out on their smartphones puts the company “at the heart of this potentially disruptive trend”, according to Canaccord.

The broker keeps its ‘buy’ recommendation and 770p target price (currently 710p) despite lowering estimates ahead of the full-year figures out next week.

The change in the fiscal year from the 12 months ended October to the 14 months ending December – “adding two seasonally slow revenue months and ongoing expenses” – adds £2mln to revenues, but lowers the broker’s operating profit forecasts by £900,000.

For this financial year, Canaccord trims its profit predictions by £200,000 as the two months it is adding generate a slightly higher loss than the months it is removing.


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on 01/30/2024