broker recommendation, page-265

I don’t know about Ord Minnett but Morningstar has had coverage of Avita for a few years now. I don’t think they provide analyst coverage of ARX.

To compare their view on AVH v PNV, Morningstar had an estimated fair value on AVH in early 2021 of $14.30. In May 2021, Ponraj lowered the estimated fair value for AVH to $7. He was unimpressed with the company’s flat growth in procedures. He described AVH as a no-moat, single-product, single-geography company with a long road to profitability. He believed Recell had a strong position in the outpatient burns market, but noted that the product was relatively less economical.

A year later, in June 2022, he seemed to have overcome his concerns about the company, now viewing AVH as “standout’ value @ $1.72. Measured against Morningstar’s estimated fair value of $14.30 in early 2021, I guess it was!

In August this year, Morningstar quant. had a fair value for AVH of $6.46 and Morningstar Premium a fair value of $5.60. AVH is currently trading at $4.45.