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Morgans Stock Analysis01/07/2021 AddTarget: $1.54A trading...

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    Morgans Stock Analysis
    01/07/2021 AddTarget: $1.54

    A trading update demonstrates to Morgans a significant pick-up in sales to close out the year. Sales and earnings (EBITDA) were estimated to be materially ahead of expectations, with a likely channel stocking benefit in late 2H, following the release of five new products.

    The broker sees further upside to new product releases and improved gross margins, with a higher margin technology stack building and as the platform/software piece unfolds.

    The Add rating is maintained and target rises to $1.54 from $1.38.

    Target price : $1.54
 
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