Great to see nobody is discussing APM, page-16

Nice update from Goldman Sachs today outlining a price target of $3.75.
Also note that JP Morgan is quoting APM as being one of the most heavily-shorted stocks on the ASX as of June 2023 (10% of free float), which means any good news or positive sentiment could squeeze the share price higher quite quickly.

Goldman note below:

The first ASX dividend share that Goldman Sachs rates as a buy is APM Human Services. It is an international health and human services provider.

The broker is feeling very positive about the company’s outlook and is forecasting strong earnings growth through to at least FY 2025. This is a big win in the current environment, where growth could be hard to come buy.

It is for this reason that Goldman feels the market is “under appreciating APM’s ability to generate sustainable earnings growth (GSe 14% EPS CAGR, FY22-25E).”

As for dividends, the broker is forecasting dividends per share of 10 cents in FY 2023 and 11 cents in FY 2024. Based on the current APM share price of $2.10, this equates to yields of 4.75% and 5.2%, respectively.

Goldman has a buy rating and $3.75 price target on its shares.