In my opinion the $0.86 price target incorporates a very conservative de-rating to production throughput as demand deficit for HPA is expected to be 10-30k tonne/year after 2021, and their proof of concept positions them well to capitalise this demand over less developed competitors. Someone correct me if I'm wrong but I believe they are the first and only HPA producer in Australia to produce a commercially viable glass bule, which suggests to me they can potentially starve other HPA companies from LED/glass market offtakes. This means they can be well positioned as a commercial producer with a track record when the demand of HPA for li-ion battery applications increase. Confidence is also high regarding reagent suppy agreement with Orica, which I don't think has been priced in at all.
Euroz Hartleys set 86c target price, page-2
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$1.10 |
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| Open | High | Low | Value | Volume |
| $1.11 | $1.13 | $1.10 | $1.113M | 1.004M |
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| No. | Vol. | Price($) |
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| 37 | 59696 | $1.10 |
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| Price($) | Vol. | No. |
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| $1.11 | 78073 | 26 |
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