12:54 PM EDT, 05/23/2024 (MT Newswires) -- Computer Modelling Group ( CMDXF ) reported in-line fourth quarter results.

CMG reported in-line FQ4 results with data points suggesting solid executions in driving organic growth and capturing energy transition opportunities, writes National Bank's John Shao. The company also reversed its working capital investments to report a strong cash balance.

While the tone of the CEO's shareholder letter suggests it is in no rush to make another acquisition, the strong balance sheet and the base simulation business conveniently position the company when future opportunities open up, Shao adds.

Maintain Outperform, $12.50 target.

Price: 11.40, Change: +0.74, Percent Change: +6.94