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Press release from Newsfile Corp

National Bank Financial Updates Coverage on Sandvine Corporation with a Speculative Outperform Rating - Video Research Alert on InvestmentPitch.com

Tuesday, October 08, 2013

National Bank Financial Updates Coverage on Sandvine Corporation with a Speculative Outperform Rating - Video Research Alert on InvestmentPitch.com

19:51 EDT Tuesday, October 08, 2013

Vancouver, British Columbia--(Newsfile Corp. - October 8, 2013) - National Bank Financial has updated coverage on Sandvine Corporation (TSX: SVC). Following the release of the company';s third quarter results, analyst Kris Thompson reiterated his speculative outperform rating, increasing his12-month target to $3.50 from $2.50 per share, a premium of 58% to the $2.22 price the day the report was issued.

InvestmentPitch.com has produced a "video research alert" about Sandvine based on the National Bank Financial report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Sandvine" in the search box.

If you cannot view the video above, please visit:
http://www.investmentpitch.com/video/0_qcsirlb1/National-Bank-Financial--Updated-Coverage--Sandvine-Corp-TSX-SVC-Oct-8th-Buy-Recommendation

Sandvine is a leading provider of intelligent network policy control solutions for fixed and mobile operators. Service providers, such as cable companies, telcos, and wireless companies use DPI or deep packet inspection to identify, monitor and manage the data on their networks. The company';s extensive customer base serves more than 100 million broadband subscribers in more than 90 countries.

"We are pleased to have recorded another strong quarter and believe that these results solidify Sandvine';s position as the leader in the best-of-breed network policy control market," said Dave Caputo, Sandvine';s President and CEO. "This represents our fourth consecutive quarter of year-over-year revenue growth, profitability, and growth in our cash and short term investments balance."

While the stock has rallied year to date, National Bank does not believe the current price reflects the company';s operating leverage, and that management seems to have found the proper operating structure to execute sales growth and drive operating leverage.

Analyst Kris Thompson stated, "Our view is that Sandvine has solved its previous selling inefficiencies through internal realignment and product innovation. We continue to believe the company has a lead versus its peer group in service creation, an area that should command wireless carrier';s attention once LTE bandwidth starts to become constrained."

The company currently trades at $2.38, well below the $3.50 target price, and with 138 million shares outstanding, the company is capitalized at $328 million. Furthermore, the company is sitting on $91.4 million in cash, cash equivalents and short-term investments.

For more information, please visit the company';s website www.sandvine.com or contact Rick Wadsworth, Director of Corporate Communications at 519- 880- 2400 ext. 3503 or email rwadsworth@sandvine.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.

About InvestmentPitch

InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing three minute videos based on news releases and research reports.

CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan@investmentpitch.com

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