CTZ
Qwest Corporation
stock NYSE

Been covering Canadian small and mid-caps since January. Thought it was worth doing an update on how the thesis has held up across the names I've initiated on.
**Hammond Power Solutions (TSX: HPS-A)** — Published April 2nd, BUY, $230 price target. Up 23% to an intraday high within four days of publication. Analyst consensus sits at $235.
**Stack Capital (TSX: STCK)** — Initiated near $17 in January. Hit $29.50 intraday this week. Up over 50% from coverage.
**Zedcor (TSXV: ZDC)** — Initiated February 25th. Q4 results just confirmed the thesis — revenue up 79% year over year, EBITDA up 82%, US fleet grew 296% in a single year.
**BQE Water (TSXV: BQE)** — Initiated January 29th, BUY reaffirmed this week with updated $95-105 CAD price target. Currently around $63. Full year results drop April 23rd. 20-year BC Government contract went live in January. Trading at 8x EBITDA while environmental services peers trade 12-18x.
**NamSys (TSXV: CTZ)** — SaaS monopoly in Canadian cash management software. $11.2M net cash on a $32M market cap. Mexico revenue growing 60% YoY. Zero analyst coverage.
**Savaria (TSX: SIS)** — Accessibility solutions, aging population tailwind, global platform. Still watching.
Not every name has moved yet but that's how research works. The thesis doesn't expire in the short term.
All of this is on The Venture Analyst on [Substack](https://yonatanbrunshtein.substack.com) if you want to go deeper on any name. Not investment advice.

Been covering Canadian small and mid-caps since January. Thought it was worth doing an update on how the thesis has held up across the names I've initiated on.
**Hammond Power Solutions (TSX: HPS-A)** — Published April 2nd, BUY, $230 price target. Up 23% to an intraday high within four days of publication. Analyst consensus sits at $235.
**Stack Capital (TSX: STCK)** — Initiated near $17 in January. Hit $29.50 intraday this week. Up over 50% from coverage.
**Zedcor (TSXV: ZDC)** — Initiated February 25th. Q4 results just confirmed the thesis — revenue up 79% year over year, EBITDA up 82%, US fleet grew 296% in a single year.
**BQE Water (TSXV: BQE)** — Initiated January 29th, BUY reaffirmed this week with updated $95-105 CAD price target. Currently around $63. Full year results drop April 23rd. 20-year BC Government contract went live in January. Trading at 8x EBITDA while environmental services peers trade 12-18x.
**NamSys (TSXV: CTZ)** — SaaS monopoly in Canadian cash management software. $11.2M net cash on a $32M market cap. Mexico revenue growing 60% YoY. Zero analyst coverage.
**Savaria (TSX: SIS)** — Accessibility solutions, aging population tailwind, global platform. Still watching.
Not every name has moved yet but that's how research works. The thesis doesn't expire in the short term.
All of this is on The Venture Analyst on [Substack](https://yonatanbrunshtein.substack.com) if you want to go deeper on any name. Not investment advice.