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Market cap: $110 million. NEW HOLDING


Stephen Takacsy’s Top Picks: Jan. 29, 2018

We recently acquired five per cent of the company, a world leader in wireless antenna design for mobile, network and infrastructure applications. Huge growth opportunity for the next 25 years with increasing wi-fi coverage (DAS), wireless LTE network densification with small cell systems, and new antennae/components needed for 5G-connected devices.


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Baylin’s new CEO reduced costs by moving R&D to Ottawa, expanded product lines from the mobile segment (where Samsung is largest customer) and the company is now profitable. It also just announced the acquisition of Montreal-based Advantech, which has complementary RF and microwave products for satellite and wireless base stations. We expect significant sales and cost synergies, with revenues reaching more than $120 million and an EBITDA of $23 million plus. Our Target price is $6 within 12 to 18 months based on 9-times 2019 EBITDA.



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