KGN 1.15% $5.15 kogan.com ltd

I have to say that I am very impressed with the turnaround of...

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    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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