Bell Potter initiates on CXL with price target of $1.10

Bell Potter initiates on CXL. Extract from research below:

Emerging environmental technology company Calix (CXL) is an emerging environmental technology company commercialising and developing a broad range of solutions for industry, derived from its patented Calix Flash Calciner (CFC) technology. We initiate on CXL with a Speculative Buy recommendation and a valuation of $1.10 per share. Our favourable view is supported by: (1) patented core technology with a broad range of commercial and potential applications; (2) five prioritised targets with a combined addressable market of $70bn; (3) growing organic revenue underpinned by a US expansion of its differentiated water treatment business; (4) near-term potential for new agreements in aquaculture and crop protection; and, (5) the material opportunity of the CO2 separation technology.