The lockdowns ended up contributing to a tough H1FY22 for this business.
However, the thesis is playing out now, with management even starting to give forward guidance.
EBITDA of $32m to $35m is near my normalised target from last year (after adjusting for the recent cash financed acquisition). So my earnings thesis has largely played out.
However, I would expect the market would apply a c.5 to 6x EBITDA multiple to this business. Therefore, there is still SP upside from a multiple re rate.
SP should rise to at least c.65 to 75c before the uptrend is done.
The lockdowns ended up contributing to a tough H1FY22 for this...
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Last
$1.37 |
Change
0.000(0.00%) |
Mkt cap ! $340.2M | |||
| Open | High | Low | Value | Volume |
| $1.37 | $1.37 | $1.36 | $54.24K | 39.78K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8864 | $1.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.37 | 3522 | 2 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| DUR (ASX) Chart |