Edison Initiates Coverage on Track Group

LONDON, May 6, 2015 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Track Group

Highlights of the analysis on Track Group by Edison's technology analysts Tom Grady and Katherine Thompson include:

Track Group develops and provides end-to-end B2B and B2G tracking solutions that combine real-time tracking devices and monitoring services with advanced data analytics for the global offender management market. However, healthcare monitoring, asset tracking and data analytics are key opportunities for growth.

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Our reverse DCF suggests that the current valuation prices in a revenue CAGR of 15.5% to c $100m in 2025 with EBITDA margins reaching 25% at this time. To put this into context, we believe this could be achieved through securing three or four significant contracts similar in size to Chile over the next 10 years. The securing of further national/state-wide deals are therefore a key catalyst, in that they could put Track Group ahead of this growth curve and further improve commercial credentials. Our forecasts assume the $30m of debt that matures over the next 12 months will be refinanced.

To download this report, please click here.

All reports published by Edison are available to download free of charge from its website http://www.edisongroup.com.

About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support its capital markets activity. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact:

Tom Grady, Edison Investment Research, +44(0)20-3077-5767
Katherine Thompson, Edison Investment Research, +44(0)20-3077-5730 [email protected]

Learn more at http://www.edisongroup.com and connect with Edison on:  
LinkedIn: http://www.linkedin.com/company/edison-investment-research
Twitter: http://www.twitter.com/Edison_Inv_Res
YouTube: http://www.youtube.com/edisonitv

SOURCE Edison Investment Research

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