AGI

4.55%

92.0¢ ainsworth game technology limited

Canaccord Genuity is Bullish on AGI and has a Target $2.80, page-3

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Guardian101

14 Posts.

01/08/16

11:30

Post #: 18415115
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Originally posted by donnyk01 ↑

Investment Highlights
i) EPS growth profile set to improve – AGI has delivered flat growth in recent years with strong growth in international markets being offset by domestic weakness. With the domestic decline slowing and the mix shifting toward the fast growing international markets (70%+ in FY17), we believe there will be a return to strong EPS growth in FY17. This will be augmented by the acquisition of Nova Technologies contributing for a full year in FY17. ii) International to drive growth – International revenue growth was up 57% in 1H16 driven by growth in the Americas. North American sales were up 42% and South American sales were up 64%. We are forecasting a similar level of growth in these markets in 2H16 and FY17. iii) Novomatic adds optionality – Novomatic’s bid to control 53% of the company, if successful, is expected to add materially to AGI’s earnings growth profile. Novomatic will drive sales into European markets, cost synergies and significant IP through a sharing of its game library. The benefits AGI has outlined would be 28% EPS accretive in FY18.

Potential Catalysts
i) Continued penetration of the North American markets. ii) Evidence of domestic ship share stablising. iii) Novomatic receiving regulatory approval for the acquisition of a controlling stake in AGI, which recently received shareholder approval.

To continue reading the rest of the report go to page 7
https://dpsi7pmz5b6vt.cloudfront.net/uploads/media/3115/Australian_Focus_List.pdf

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I don't believe domestic decline is slowing nor is domestic ship share stabilising for AGI yet. Last I heard, ALL was at 66% of NSW Club market and 90% of NSW Pub market. Interested to see how AGI Management will address domestic woes or will they just ignore it altogether and concentrate internationally and online. Wouldn't be surprised if Danny (CEO) announces plans on relocating to US permanently.

AGI Price at posting: $2.13 Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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(20min delay)
Last 92.0¢		Change 0.040(4.55%)		Mkt cap ! $309.8M

Open	High	Low	Value	Volume
88.0¢	92.5¢	88.0¢	$16.61K	18.43K

Buyers (Bids)

No.	Vol.	Price($)
1	1	91.0¢

Sellers (Offers)

Price($)	Vol.	No.
92.0¢	3780	1

View Market Depth

No.	Vol.	Price($)
1	14945	0.895
2	32487	0.870
1	8887	0.855
1	5882	0.850
1	1000	0.830

Price($)	Vol.	No.
0.930	1870	2
0.940	5577	1
0.950	2610	1
1.020	2499	1
1.035	6785	1

Last trade - 15.51pm 12/07/2024 (20 minute delay)

AGI (ASX) Chart

Canaccord Genuity is Bullish on AGI and has a Target $2.80, page-3

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Canaccord Genuity is Bullish on AGI and has a Target $2.80, page-3

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