IFN - Macquarie rates the stock as Neutral
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Infigen's result was in line with previously released production and revenue numbers. The company has refinanced a debt facility ahead of expiry, as had been suggested.
Refinancing is a positive, the broker notes, but near term headwinds include declining commodity prices, as renewables rapidly enter the energy market, a lack of clear government policy and little sign of delivery on Infigen's new business strategy.
Neutral retained. Target falls to 67c from 69c.
Target price is $0.67.Current Price is $0.67. Difference: $0.00 - (brackets indicate current price is over target). If IFN meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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