Today Lincoln Indicators delisted TNE as a Star Growth Stock citing potential profit impacts from the Brisbane City Council project and the Wellington City Council project.
Lincoln also claims management have indicated slower revenue growth going forward. The only announcement I can see is back in August when TNE announced a record number of 50 go lives in just eight weeks including a record 12 for 1st July 2017 being the first day of the new financial year. In July TNE also announced record number of conversions of customers to the SaaS model. This is designed to save money for customers but generate better returns for TNE.
I think Lincoln has lost its balls and given the shocking performance of its income and growth funds I am not surprised it cannot stomach another potential loss.
The report was issued with a final Lincoln Valuation for TNE of $4.99
Today TNE finished 3cents down at $5.02
Need I say more.
TNE Price at posting:
$5.02 Sentiment: Buy Disclosure: Held
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