EL & Baillieu issued a report today. Here are a couple of highlights:
"Investment view: Initiate with Buy call DCF valuation of A$0.64 and price target of A$0.50. Although we would view the logic and applications of BCT’s patented technology and products as compelling, the stock remains somewhat speculative until we have a clearer picture of sales volumes going forward. We therefore have set our price target at a 25% discount to our valuation.
Buy Call. Initiate with Buy call, DCF valuation of A$0.64 and price target of A$0.50. We have set our price target at a 25% discount to our valuation due to: 1) the formative stage of the company’s development means that there is significant risk to our earnings forecasts
(although this could be on the upside); and 2) the tightness of BCT’s liquidity could well facilitate some type of top-up capital raising to support cash flow through to the full commercial sales phase."
Hopefully the full report will be on the BCT website soon.
Good luck to all holders.
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