Vancouver, BC, July 10, 2014 - National Bank Financial has initiated coverage on TIO Networks (TSXV:TNC), which trades on the TSX Venture Exchange under the symbol "TNC". Analyst Kris Thompson gives the company an outperform rating and a 12-month price target of $2.00, a premium of 150% to the $0.80 price on July 7th, the day the report was issued.
InvestmentPitch.com has produced a "video research alert (http://www.investmentpitch.com/video/0_c3r8ropp/National-Bank-Financial-has-initiated-coverage-on-TIO-Networks-TSXV-TNC)" about TIO Networks based on this report. If this link is not enabled, please visit www.InvestmentPitch.com (http://www.investmentpitch.com/) and enter "TIO Networks" in the search box.
TIO Networks is a cloud-based IT vendor focused on processing bill payment transactions to the underservices market in the United States. The U.S. underserved market generated US$89 billion in fees and interest revenue in 2012 and is expected to have reached US$95 billion in 2013. TIO Network's current solutions target approximately US$5 billion of this market.
The company has a long history of revenue growth and has plenty of room to grow in a consolidating, multi-billion dollar market.
The company's multi-channel network helps its biller clients by providing bill payment services to collect payments from their customers. It provides self-service kiosks, clerk-assisted point-of-sales or mobile/web as channels in which a biller's customers can pay their bills. The Vancouver-based company's 141 employees serve over 65,000 locations.
Analyst Kris Thompson stated, "We believe there is material upside to the current stock price once the company's earnings profile is better understood coupled with additional M & A activity that allows TIO to reach better scale efficiencies."
The company currently trades at $0.92, well below the $2.00 target price, and with 57.1 million shares outstanding, the company is capitalized at $52.5 million.
For more information about TIO Networks, please visit the company's website www.tionetworks.com (http://www.tionetworks.com) or contact John Lewis, Business Development at 416-523-7086 or email jrlewis@tionetworks.com (mailto:jrlewis@tionetworks.com).
Investor relations is handled by David Fore of Hayden IR, who can be reached at 206-395-2711 or by email dave@haydenir.com (mailto:dave@haydenir.com).
For more information about National Bank Financial or to obtain a copy of their research report, contact your nearest National Bank Financial office. Their branches are listed on their website at www.nbf.ca (http://www.nbf.ca).
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