In a report released yesterday, Allen Klee from Maxim Group reiterated a Buy rating on Hydreight Technologies Inc, with a price target of C$8.50.
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Allen Klee has given his Buy rating due to a combination of factors that highlight Hydreight Technologies Inc’s potential for significant growth. The company is strategically expanding its VSDHOne platform, which is expected to drive a strong increase in revenue and adjusted EBITDA starting in the second half of 2025. This growth is supported by recent actions such as acquiring a stake in Perfect Scripts to enhance drug manufacturing capabilities and signing a letter of intent to incorporate AI technology for personalized IV therapy.
Additionally, Hydreight’s growth strategy is underpinned by three main pillars: a network of nurses, white-labeling solutions for franchises, and the VSDHOne software platform, which is projected to be the largest contributor. The company’s financial projections are promising, with expected revenue growth from C$16M in 2024 to C$190M in 2027, and adjusted EBITDA increasing from C$0.5M to C$38M in the same period. The stock’s valuation, trading at an EV/2026E EBITDA multiple of 8.4x, supports a 12-month price target of C$8.50, reflecting confidence in Hydreight’s scalable platforms and competitive advantages.
According to TipRanks, Klee is an analyst with an average return of -13.0% and a 31.24% success rate. Klee covers the Technology sector, focusing on stocks such as Roadzen Inc, Hydreight Technologies Inc, and Health In Tech, Inc. Class A.