Morningstar's FVE is not a price target. It's what they believe would be a fair price to buy the stock for, right now, based on a long-term prediction of the company's performance. So when the company delivers disappointing news in the short term, it may or may not change their long-term view of the company.
In this case it did, as I quoted above, affect their view of how long it will take for GEM to recover. Hence dropping their FVE.
If you think about it, it does actually make sense.
Morningstar's FVE is not a price target. It's what they believe...
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Last
$1.21 |
Change
0.000(0.00%) |
Mkt cap ! $975.4M | |||
| Open | High | Low | Value | Volume |
| $1.21 | $1.21 | $1.20 | $904.1K | 751.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 35338 | $1.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.21 | 60228 | 5 |
View Market Depth
| Last trade - 16.10pm 05/06/2024 (20 minute delay) ? |
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Last
$1.21 |
Change
0.000 ( 0.21 %) |
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| Open | High | Low | Volume | ||
| $1.21 | $1.21 | $1.20 | 190099 | ||
| Last updated 15.59pm 05/06/2024 ? | |||||
| GEM (ASX) Chart |