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
$18.30 |
Change
-0.020(0.11%) |
Mkt cap ! $1.520B |
Open | High | Low | Value | Volume |
$18.37 | $18.52 | $18.11 | $2.255M | 123.1K |
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1 | 234 | $18.29 |
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$18.30 | 786 | 2 |
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1 | 500 | 18.250 |
1 | 549 | 18.190 |
1 | 2595 | 18.110 |
3 | 788 | 18.100 |
1 | 60 | 18.030 |
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18.680 | 144 | 1 |
18.850 | 200 | 1 |
19.000 | 500 | 1 |
19.030 | 980 | 1 |
19.080 | 555 | 1 |
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Last
$18.32 |
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Change
-0.020 ( 0.32 %) |
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Open | High | Low | Volume | ||
$18.42 | $18.53 | $18.11 | 23318 | ||
Last updated 15.59pm 10/05/2024 ? |
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