Ord Minnett rates ABB as Buy (1) -
Aussie Broadband's AGM trading update reveals continued market share growth in the September quarter (subscriber rose sharply and broadband market share rose 6.73% on the NBN ), and management reiterates FY23 earnings (EBITDA) and revenue guidance.
Ord Minnett observes the Over The Wire acquisition is being integrated to plan and expects this will yield a sharply improved balance of earnings for the group and a better path to scale.
The broker also forecasts a growth rate in excess of 6% going forward.
EPS forecasts are shaved -3% to reflect the higher cost of capital, courtesy rising interest rates.
Buy rating retained. Target price falls to $3.61 from $4.03.
Ann: AGM Presentations, page-16
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Last
$3.65 |
Change
0.010(0.27%) |
Mkt cap ! $1.079B | |||
| Open | High | Low | Value | Volume |
| $3.62 | $3.68 | $3.57 | $1.205M | 331.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 18475 | $3.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.68 | 4650 | 2 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| ABB (ASX) Chart |