DJ Nearmap Profit Upgrade Nearer than RBC Thought - Market Talk
An earnings upgrade may be closer than thought for Aussie aerial-imaging company Nearmap, says RBC. Data through March suggest the firm's annualised contract value has already surpassed A$90million - a full quarter ahead of what the investment bank expected. So it's FY EBITDA forecast jumps 20% as "we have also lowered our WACC to 8% to reflect lower risk given the clear traction of Nearmap's product in the US. "RBC's stock target jumps a further 25% to A$4.05."
NEA Price at posting:
$3.77 Sentiment: Buy Disclosure: Held
