Ann: Completion of OVO Subscriber Acquisition and Webcast, page-3

Yesterday Macquarie has forecasted a target price of $0.64 (https://www.*********.com.au/2020/06/04/ays-macquarie-rates-the-stock-as-outperform-6/) while Goldman Sachs sent the following update to its clients the day before: "We make no change to our AYS earnings estimates, pending acquisition completion. However given the re-iteration of FY20 guidance and pleasing operational momentum, we increase the mobile multiple in our SOTP by 1X to 4X. Hence our 12m AYS TP (FY21 EV/EBITDA SOTP) increases +13% to $0.36. Stay Neutral."

But I guess share price is primarily boosted by the recent rumours of Blue Origin showing interest in AYS' energy business (https://www.copyright link/companies/telecommunications/amaysim-acquires-ovo-confirms-energy-sale-rumours-20200603-p54yzt) which could potentially extend to the entire company as mobile services would fit well into the company product portfolio of electricity and broadband.

Separately, AYS' negotiating position will be strengthened in the upcoming review of the network supply agreement with Optus due to AYS' promising subscriber growth while Optus faced declining revenue (-9%) and EBITDA (-25%) during 4Q20. As a result there's a growing dependency on AYS on part of Optus.