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RBC Capital Markets analyst Dan Bergstrom initiated coverage on CSG Systems International, Inc. (NASDAQ:CSGS) with an Outperform rating and price target of $61.
The analyst is bullish on the company’s goal to accelerate growth and scale by growing the business to more than $1.5 billion by CY/25E.
The analyst says the company can consistently grow organically in the 2%-6% range and strategic M&As, leading to margin expansion and driving EPS growth faster than revenue.
The analyst also sees revenue management and digital monetization as a recurring, profitable book of business.
Bergstrom writes that CSG is emerging as a partner of choice for brands in higher growth verticals to digitize and monetize customer experiences and payment processes.
The analyst says that CSG should be in a better position upon contract renewals with major players and its wireless business.
The analyst estimates EPS of $3.91 in 2024 and $4.16 in 2025.
Investors can gain exposure to the stock via ProShares S&P Technology Dividend Aristocrats ETF (BATS:TDV) and ETF Series Solutions AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF (NYSE:SMIG).
Price Action: CSGS shares are up 0.10% at $50.35 on the last check Wednesday.
