Professional
Added to YB: 2026-09-14
Pitch date: 2026-06-30
DRX.TO [bullish]
ADF Group Inc.
-4.43%
current return
Author Info
Atrium Research provides institutional quality research on underfollowed public equities. Sign up for the newsletter.
Company Info
ADF Group Inc. engages in the design and engineering of connections including industrial coatings in Canada and the United States.
Market Cap
CAD 391.2M
Pitch Price
CAD 17.00
Price Target
21.00 (+29%)
Dividend
0.29%
EV/EBITDA
6.01
P/E
12.33
EV/Sales
0.98
Sector
Metals and Mining
Category
growth
ADF Group – US Business Gaining Momentum Again; Increasing Target Price
DRX.TO: ADF Group’s target rises from $16 to $21, implying 19% upside, after $127M of new U.S. contracts lifted pro forma backlog to a record $772.8M. Q1 revenue grew 79% to $99.3M and adjusted EBITDA reached $18.5M, while LAR adds Canadian and hydroelectric exposure. The target equals 9.2x FY28 earnings and a 6.5% FCF yield, with FY28 forecasts still reliant on management execution.
Read full article (4 min)