Valuation paragraph from Cannacord report. I believe they will revise their price target soon, based on the wording:
Valuation & view The strong 1H24 revenue result de-risks our/consensus FY24 forecasts and demonstrates EOS's ability to execute on its order backlog in an accelerated manner. We expect the company's multiple to continue to re-rate positively as investors gain confidence in contract execution and as its order backlog grows. We estimate the current order backlog sits at +$500m, which underpins its revenue trajectory in the immediate future. We maintain a BUY rating and a DCF-derived valuation of A$1.95ps.
EOS Price at posting:
$1.84 Sentiment: Buy Disclosure: Held
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