$85m is my base case. I think they will go over $100m.
$40m in the first half. Second half is usually stronger. Plus the communications business is coming into the 2H with an order book of $30m+ already.
This is a small position in my portfolio and I was about to liquidate it to free up some cash, but given the market update and improved outlook, I think it's still undervalued and can run up another 20-30% from here in the next 6-9 months so it goes back into the bottom draw for now.
CDA Price at posting:
$11.67 Sentiment: Hold Disclosure: Held
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