Ann: Trading Update, page-6

Note sure I can share the full reports. As per previous thread (see Updated Canaccord Research - 20c price target) for more info, there's a few analysts covering the company. Ords have a an 18c target price, Canaccord Genuity has 20c (base case, bull case is 31c) and Taylor Collison has it at 21c. As noted in the other thread, all remain pretty conservative on growth and cashflow (as noted above). The market largely brushed off the last quarter as a one off (and that's somewhat understandable to a point given the last few years of disappointments), but this latest update suggests that positive momentum is continuing and with the pipeline of deals still to hit the bottom line in FY26, there's a lot of upside to both the old valuations and even more for the current share price. It could be easily justifiable to be trading at double where it is today IMHO. DYOR of course.