The past upgrades were before the Forbar report that priced in this latest upgrade - and on the half year result mgmt said it was likely to upgrade if they got the stock. I don't think people understand how this business works. All the orders are in place, it was just a matter of getting raw materials.
If they can carry on growing nicely and really take advantage of the LEOs, NewSpace opp it's a definite buy.
I tend to think the 5G roll out will be slower (on the half year Brent said 2-3 years away before it ramps hard - and it's much lower margin than defence/Newspace) . So in the meantime they've going to have to maintain these orders they're getting from the competitor fire as NewSpace/LEOs are still a work in progress from my understanding too.
Don't forget they've been steadily increasing revenues each year, but this year was much more profitable as they were able to get good prices for their chips in the positioning division.
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The past upgrades were before the Forbar report that priced in...
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ShareLast edited by healthyinvestor: 10/02/22Price at posting: $1.94 Sentiment: None Disclosure: Not Held
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Add RAK (NZSX) to my watchlist