Sphere 3D Corp (ANY)

[sons4]

Hmmm, maybe Jacobs Securities didn't research the company?? Should we listen to niliearan or these reputable firms? The smart money will stick to Cormark and Jacobs!

Computing…Anyhow, Anywhere

Event: ? We are initiating coverage with a BUY stock rating, HIGH risk rating, and $8.50 share price target.

Key Investment Views: ? Virtualization game changer: As one of the most innovative R&D shops we have come across, Sphere 3D`s virtualization technology can be a game changer for numerous tech subsectors provided the company gets to market quickly and effectively. Sphere 3D’s product, Glassware 2.0, (1) truly enables complexity to be pushed to the cloud, and (2) seriously threatens the need for much of the virtualization middleware on the market now, as well as the need to develop applications for multiple platforms. ? Revenue inflection next share price catalyst: ANY shares appreciated strongly over the past year, and the next set of catalysts bodes well for further near-term upside. From a revenue build perspective, Sphere 3D is ready to go from conceptual to initial commercialization stages in H1/2014, a transition typically associated with forward EV/Sales multiple expansion. ? Sphere 3D valuable as an acquisition target or an independent: While an acquisition of Sphere 3D makes sense for many types of acquirers, the greatest value comes from remaining independent (which does not rule out a takeover by a financial acquirer). ?