ahz

Morgans rates AHZ as Downgrade to Reduce from Hold (5) -
Ademus' June Q sales result was in line with Morgans but costs remain elevated. Key achievements in the quarter include FDA approval for CardioCel 3D and additional staff appointments, while the pending opening of the Royal Adelaide Hospital is important to maintain momentum, the broker suggests.

Morgans has nevertheless taken a more cautious stance on the return to profitability, thus lowering its valuation and target price to 23c from 36c. This results in a downgrade to Reduce from Hold and the broker believes there are better opportunities elsewhere.

Target price is $0.23 Current Price is $0.27 Difference: minus $0.04 (current price is over target).
If AHZ meets the Morgans target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).


Not sure how reliable Morgans are but perhaps this is the reason for the dip today