2024-04-02 23:34:55 ET
Summary
- Telos Corporation has shown strong signs of growth recovery in 4Q23, leading to a revision of the rating from sell to buy.
- TLS exceeded revenue expectations and beat the high end of management's guidance range for adj EBITDA and adj EPS.
- The Company has secured new contracts worth $525 million over the next five years, indicating potential positive growth and revenue acceleration in the future.
Summary
Readers may find my previous coverage via this link . My previous rating was a sell, as I did not see any catalyst that could drive the share price of Telos Corporation ( TLS ) upwards. My thoughts were that TLS needed to show a couple more quarters of growth before the market would be convinced that the business had recovered. Now that TLS has shown a very strong sign of growth recovery in 4Q23, I am revising my rating from sell to buy....
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Telos: Rating Upgrade To Buy As Growth Outlook Turns Positive