COMMENTARYDeutsche Bank resumes coverage of Imdex with a Buy rating and $1.58 target. The broker believes a combination of higher prices and supply deficit would be a sweet spot for exploration-related stocks, particularly Imdex.The company's volume and revenue has been increasing in a decreasing macro environment (exploration spend) driven by its own product investment and clients paying more for better product and services.The broker believes the company can surpass $60m EBITDA by FY20 which would put the stock at around 7x EBITDA at current levels.
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The above from FNarena
IMD Price at posting:
$1.31 Sentiment: Buy Disclosure: Held
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