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EcoSynthetix Inc. Receives Increased Target Price in Research Report from RBC Capital Markets - Video Available on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2016) - Today's buy recommendation...
About this update from Ecosynthetix Inc.
[{"type":"text","content":"\nEcoSynthetix Inc. Receives Increased Target Price in Research Report from RBC Capital Markets - Video Available on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - November 15, 2016) - Today's buy recommendation comes from RBC Capital Markets, which has increased its target price on EcoSynthetix Inc. (TSX: ECO). Analyst Steve Arthur gives the company a speculative risk, sector perform rating, increasing his target price from $2.25 to $2.75, a premium of 31% to the $2.10 price on November 9th, the day the report was issued. InvestmentPitch.com has produced a \"video\" which discusses this company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"EcoSynthetix\" in the search box. It is also available for viewing on YouTube (click here).Cannot view this video? Visit:http://www.investmentpitch.com/video/0_vu5r86gr/RBC-Capital-Markets-has-increased-its-target-price-on-EcoSynthetix-TSE-ECOEcoSynthetix, a renewable chemicals company, specializes in bio-based materials that are used in a wide range of products. The company's flagship product, EcoSphere, is a bio-based latex binder made from renewable feedstock such as carbohydrates and proteins. These binders can effectively replace petroleum binders in a wide number of industries, particularly the paper coatings industry, where they allow colourful graphics to \"stick\" to glossy paper used in magazines, books and packaging. Since 2008, the company has sold more than 100 million pounds of EcoSphere products globally.The company recently secured its first commercial customer for DuraBind™, created to replace the traditional binder systems which have been used for decades in the wood composites industry. This product enables manufactures of particle board, MDF, veneers and laminates to decrease the amount of highly regulated chemicals, such as formaldehyde, used in their formulation.An industry study puts the global wood resin market at US$15 billion annually.Jeff MacDonald, CEO, stated: \"Securing our first commercial customer for DuraBind was our key priority in 2016. Our goal is to add more production lines and win new customers as we demonstrate the value of DuraBind.\"Analyst Steve Arthur stated: \"We continue to see several potential drivers of adoption, revenue and earnings growth over the longer-term. Our confidence in the ev...