Goldman Sachs has initiated coverage on Altium with a buy rating and $28.50 price target.
The broker has forecast Altium growing its earnings before interest and tax by a compound annual growth rate of +34% over the next three years.
At “25x FY20 EV/EBIT, we believe ALU screens as attractive relative to ANZ tech peers trading on 31x delivering 3 year EBIT CAGR of 30%.”
Fool Australia article
