I have to say that I am very impressed with the turnaround of their EBIT and the net cash balance.
With no external debt and a total cash position of $83m. It does not get any better.
The cash position by itself represents some 20% of the market cap as of yesterday's closing price.
The price action should hit the first resistance of $5.55 by the end of this month and then retest the next resistance level of $6.90 by the end of Feb after the half-year results are out.
If the half-year result comes with a div, then it will be well received by the market, and the share price should head towards the $9 mark.
Obviously, share price does not go in a straight line. There will be some volatility on the way up subject to market conditions. However, any share price weakness will just be a buying opportunity.
I believe some brokers have over $10 a share as their target over the next 12-month period.
If the current financial performance continues to the 2H of FY2024 and they pay div or issue a new share buyback, then the $10 target is achievable before the end of 2024.
This is just my personal opinion, not financial advice
Regards,
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- Ann: Kogan.com January 2024 Business Update
Ann: Kogan.com January 2024 Business Update, page-15
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Last
$4.03 |
Change
-0.060(1.47%) |
Mkt cap ! $405.4M |
Open | High | Low | Value | Volume |
$4.08 | $4.08 | $3.98 | $2.808M | 696.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 13100 | $3.99 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$4.03 | 2402 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 13100 | 3.990 |
16 | 45353 | 3.980 |
7 | 7772 | 3.970 |
4 | 8278 | 3.960 |
16 | 15040 | 3.950 |
Price($) | Vol. | No. |
---|---|---|
4.030 | 2402 | 1 |
4.040 | 2406 | 1 |
4.050 | 2900 | 2 |
4.060 | 494 | 1 |
4.070 | 1722 | 2 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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KGN (ASX) Chart |