ABN AMRO cuts Ventracor (VCR.AU) to Hold from Buy and target price to 63 cents from A$1.17 because "newsflow in the short term is not likely to move the share price significantly...VCR is making steady progress on an operational front," ABN says in client note. However, ABN expects VCR to report 1H loss of A$18.2 million on Feb. 22. ABN also revises VCR forecasts, widening to a loss of A$30.4 million this FY and A$21.1 million next FY, driven mainly by higher than expected inventory costs. "We continue to believe in the long-term potential and, on the achievement of clinical milestones, we will revisit our recommendation."
VCR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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