Morgans rates M7T as Initiation of coverage with Hold (3) -
Mach7 Technologies first-half result met Morgans' estimates, the company reporting maiden positive cash flow, on track with guidance.
A key contract win from Advocate Aurora Health was the main driver, thanks to the booking of $4m in software licence fees.
Management reports a solid pipeline, but the broker says much will come down to the timing of contract execution from here and expects a weaker second half.
Morgans initiates coverage with a Hold rating and target of $1.16.
So they start at a hold, even though you would make 40% buying here if it hits their target!
What clowns.
Morgans starts coverage
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60.0¢ |
Change
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Mkt cap ! $144.7M | |||
| Open | High | Low | Value | Volume |
| 59.8¢ | 60.0¢ | 59.5¢ | $104.1K | 173.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4702 | 59.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 60.0¢ | 166300 | 2 |
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