I note the Shaws report mentions Giles doing investment presentations in Hong Kong around now.
Post 12pm AEST trading today may be from Asian market institutional investors. I noticed previously small daily volumes until the Asian markets open, then strong buying. I like it when the buying is strong in the absence of a sell line exit strategy. It is less likely the buying is from nervous traders since there is no sell line safety net.
It is good to see analysts upping their short term price targets. Whilst the Lumileds collaboration is taking longer than expected, the commitment is stronger and the portfolio of parallel opportunities continues to grow. BLG is not a one trick pony. The new RGB micro LED opportunity is very exciting is was out of the blue!
I've just been looking at the Shaws report on the SLX thread (easier to read). The FY20E PE is 1.6. If a PE of 25 is maintained each year (FY17A was 25.2), then the 25.9c EPS would translate to a SP of $6.40. Not bad for any true believers out there.
BLG Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
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