I would hope not wisdom, although you'll note on this attached report that he only rates FDA approval of CVac a 15% chance...?
Imo, they just don't really have a clue and I also believe too many analysts just crunch numbers and rely more on the TA when setting targets rather than conducting a thorough FA. - That just won't help much in the bio spec sector.
Click here for National Securities full report by Jason Korbet
Click here for the full Southern Cross report by Stuart Roberts.
I would expect Southern Cross should be releasing another by the end of this month - Something to look forward to ;)
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