Report by Costigan Reports
Having successfully identified the transformation at NOVT (turned bullish June 2017 at $36; current share price $176), Bob Costigan believes the company is poised to enter a rapid growth phase as it takes advantage of the global shift to mobile robotics. He projects revenue CAGR of 15%+ (10% organic), OCF CAGR of 30%+ and EPS CAGR of 30%+ (2022-24). NOVT has a history of innovation and Bob expects investment in R&D to increase to 9% of sales in each of the next three years. 1-yr TP $220; 3-yr TP $320 (90% upside).