Ord Minnett initiated coverage of AD8 yesterday with a valuation of $23 share price.
Morgan Stanley revised valuation to $22 share price from a few days ago.
Shaw and Partners and Macquarie haven't incorporated the latest trading updates so their $17.90 valuations are outdated from early February.
Looks like we should see a strong rise from Monday:
1. US markets (DJIA) rallied 1.51% (up 575 points) to 38,686 and after-market futures up another 594 points or 1.55% to 38,825.
2. ASX futures pointing to a +1.46% rise on Monday.
3. Furthermore, short sellers have increased recently to ~1.6million units, almost double so any gains in the share price = margin calls and force them to cover which means buying up shares for sale which means upward pressure and gains to the share price.
4. All in all, very strong tailwinds for AD8 to breakout higher after Friday's strong 4.3% gains.
5. My estimate is back to $17+ which is an ~8% rise, very achievable and well conservative of what the investment bankers are valuing AD8 at.
Looking forward to next week's price action.
$23 Valuation
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Last
$15.33 |
Change
-0.390(2.48%) |
Mkt cap ! $1.274B | |||
| Open | High | Low | Value | Volume |
| $15.71 | $15.86 | $15.11 | $4.604M | 299.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 373 | $15.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.36 | 255 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| AD8 (ASX) Chart |