EL & Baillieu issued a report today. Here are a couple of highlights:
"Investment view: Initiate with Buy call DCF valuation of A$0.64 and price target of A$0.50. Although we would view the logic and applications of BCT’s patented technology and products as compelling, the stock remains somewhat speculative until we have a clearer picture of sales volumes going forward. We therefore have set our price target at a 25% discount to our valuation.
Buy Call. Initiate with Buy call, DCF valuation of A$0.64 and price target of A$0.50. We have set our price target at a 25% discount to our valuation due to: 1) the formative stage of the company’s development means that there is significant risk to our earnings forecasts (although this could be on the upside); and 2) the tightness of BCT’s liquidity could well facilitate some type of top-up capital raising to support cash flow through to the full commercial sales phase."
Hopefully the full report will be on the BCT website soon.
Good luck to all holders.
Top Gear
BCT Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
