Macquarie rates AD8 as Downgrade to Neutral from Outperform (3) -In updating its model for Audinate Group, Macquarie notes Pro AV market growth is GDP-linked due to the timing of equipment-upgrade cycles. The broker raises terminal penetration to reflect the structural trend of analogue to digital networking.Although Audinate is dominant in the audio hardware market, this is 16.5% of Macquarie's estimated terminal total addressable market and Video & Software opportunities are early-stage.The broker continues to like Audinate, with delivery on its strategy of growing the Dante-enabled network. However, with well-flagged M&A on the horizon and associated execution and reinvestment risks, Macquarie downgrades to Neutral from Outperform.Target rises to $15.80 from $13.50.Target price is $15.80 Current Price is $17.29 Difference: minus $1.49 (current price is over target).If AD8 meets the Macquarie target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).Current consensus price target is $14.34, suggesting downside of -10.9% (ex-dividends)The company's fiscal year ends in June.
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Last
$15.64 |
Change
0.570(3.78%) |
Mkt cap ! $1.299B |
Open | High | Low | Value | Volume |
$14.95 | $15.81 | $14.78 | $4.419M | 286.0K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 376 | $15.58 |
Sellers (Offers)
Price($) | Vol. | No. |
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$15.64 | 1114 | 3 |
View Market Depth
No. | Vol. | Price($) |
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1 | 488 | 15.530 |
1 | 335 | 15.410 |
1 | 1000 | 15.210 |
1 | 200 | 15.140 |
1 | 250 | 15.050 |
Price($) | Vol. | No. |
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15.650 | 250 | 1 |
15.900 | 500 | 1 |
16.000 | 4627 | 2 |
16.060 | 2389 | 3 |
16.110 | 748 | 1 |
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