Morgans like it this morning with an upgrade.
Acrow Formwork (A$0.37) ADD TP A$0.55On the right pathACF has advised that its Industrial Scaffold business continues to grow strongly with further contract wins. The company has secured a 3-year (plus 2- year extension option) industrial services contract with Visy's Tumut Kraft Paper Mill, which is expected to generate revenue of ~A$2.5m pa. Management hinted at further similar contract wins in the near future. ACF has also reiterated FY21 guidance and continues to target ~20% EBITDA growth in FY22. We think the fact management has provided FY22 guidance so early shows confidence in the outlook. We increase FY21/FY22/FY23 EBITDA by 0%/7%/6%. Our FY22 EBITDA forecast implies 17% growth on the prior year. Our target price rises to A$0.55 (from A$0.53) and we maintain our Add rating.
Morgans like it this morning with an upgrade. Acrow Formwork...
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Last
$1.12 |
Change
-0.010(0.88%) |
Mkt cap ! $329.2M | |||
| Open | High | Low | Value | Volume |
| $1.14 | $1.14 | $1.12 | $576.5K | 513.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7936 | $1.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.13 | 11858 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.12 |
Change
-0.010 ( 1.27 %) |
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| Open | High | Low | Volume | ||
| $1.13 | $1.13 | $1.12 | 32183 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| ACF (ASX) Chart |