Evans & Partners put a buy on EOS with a target of $5,62. Detailed report, 34(!) pages. For the valuation they only considered the existing order book.
“We forecast strong revenue and profit growth over the next three years, driven by the existing order book, with significant upside if the company is successful in some/all of $2.5bn of tenders in progress. Our blended valuation of the stock is $5.62 a share”.
https://www.eos-aus.com/wp-content/uploads/2019/08/EOS_7Aug2019.pdf
They made an overview of some of the pitches. Interesting. They must have talked to EOS.
“EOS is currently pitching on several very larger tenders over the next two years:
▪ R-400S – US Army, $300m a year for 10yrs
▪ R-800 – US Army (Stryker program), $1bn
▪ RWS for Light Reconnaissance Vehicle – US Army, $400m
▪ RWS for Drones – multiple customers, $800m
▪ Remote Turret – Australian Army, $1bn
Management is confident of winning a sizeable share of these contracts.”
The report was distributed among customers of E&P after the close of August 7, share price $3,87. Sure made an impact on the share price.
Cheers
Evans & Partners put a buy on EOS with a target of $5,62....
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