Home News A2Z Smart Technologies initiated with a Buy at Benchmark $18 Initial Target

A2Z Smart Technologies initiated with a Buy at Benchmark $18 Initial Target


A2Z Smart Technologies  Link to Research Report 

We are initiating coverage of A2Z Smart Technologies Corp (AZ) with a BUY rating and an $18 per share price target. A2Z officially operates five different business segments – Retail Solutions; Security & Military; Automotive Safety; Portable Energy; and Maintenance and Technical Support. However, for the purposes of this report, we are focusing exclusively on A2Z’s Retail Solutions segment and their
mobile self-checkout (SCO) smart shopping cart, and assuming that the remaining businesses are spun out or sold.

We believe A2Z’s Cust2Mate smart shopping cart
solution could be a material market share winner in this still extremely nascent but rapidly growing market for the following reasons:

1) Cust2Mate already has a proven product with existing orders in Israel and multiple pilots around the world;

2) We believe the Cust2Mate product is substantially differentiated from the peer

3) Management has extensive experience in retail connectivity, with the CEO and multiple team members previously holding high-level jobs within the world’s largest retail POS/SCO company, NCR (NCR-Buy);

4) The team already has deep connections in Spain, Italy, Russia and Germany, with multiple partnerships and the most recent acquisition opening incremental doors, including to other potential verticals;

5) A2Z’s solution contemplates service expansion into areas like advertising, couponing and big data; Cust2Mate is truly a SaaS offering.


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