well what I've tried to highlight is what I think the analysts are thinking and I feel is going to impact the short term share price. I can see Macqaurie already lowered their 12 month price target to $1.60 ... and I suspect the rest will follow.
the fact that management are now targeting break-even in FY22 as a success, to borrow their phrase, will have the 'desired effect' of reducing company valuations. Just look at Macquarie this morning:
• EPS revisions of -212%/-68%/-41% in FY22/23/24E (noting a low earnings
base) reflect lower BTM forecasts, increased cost assumptions, updated FX.
TP cut to A$1.60 (from A$2.85) in line with EPS changes, increased house
risk-free-rates and a reduced Hernia valuation (A$0.20 from A$0.40).
Price catalyst
• 12-month price target: A$1.60 based on a DCF methodology.
no need for 'I told you so' statements.. we all want to do well, and I honestly do wish everyone well.
Ann: 1H FY22 Results Presentation, page-370
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