Desjardins Keeps Their Buy Rating on Kraken Robotics Systems Inc (PNG)

Desjardins maintained a Buy rating on Kraken Robotics Systems Inc. (PNG) and set a C$13.50 price target. The stock closed the prior session at C$6.75, positioning the target well above the recent share price. The article said the Street consensus calls for a Strong Buy rating, with an average price target of C$11.67, representing 72.89% upside. It also noted that Scotiabank, in a report released the day before, reiterated Buy with a C$12.00 target. Financially, Kraken Robotics reported quarterly revenue of C$21.71 million for the quarter ended March 31 and a GAAP net loss of C$3.33 million. In the comparable period last year, revenue was C$16.13 million and the company reported a net profit of C$215 thousand, highlighting a swing from profit to loss.