State One Brokers have a 50c price target on FBR. From Motley Fool yesterday......
Fastbrick Robotics Ltd (ASX: FBR)
A mobile robotic technology company with a focus on the global brick construction industry, Fastbrick Robotics has attracted the attention of many interested punters of late, but the $191 million market cap company is still in small cap territory. State One brokers have placed a buy recommendation on the stock off the back of its announcement on June 7 that the mechanical assembly of its Hadrian X construction robot is complete.
The vehicle is a commercial prototype of the company’s patented 3D robotic bricklaying system and the project is now in the process of commissioning with factory acceptance testing to be completed in the September quarter.
While State One has a 50c per share price target on the stock, Fastbrick shares are a far cry from that at the time of writing – down 2.7% to 17c per share.
But while such a futuristic project might seem a bit left of field, a recently-completed global market analysis for the Hadrian X indicated demand could be up around 150,000 machines with Fastbrick expecting to target 2% of this market over the next 5 years.
FBR Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
