AX1 - Citi rates the stock as Buy
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• AX1 -
Interim performance was a beat and Citi has grabbed the opportunity to reiterate its Buy rating, while bumping up its price target by 13% to $1.15.
The positive view is based upon the combination of high yield, renewed sales momentum in the business plus the optionality to tap into further growth internationally.
Forecasts have been boosted higher on the back of the results release.
Target price is $1.15.Current Price is $1.06. Difference: $0.09 - (brackets indicate current price is over target). If AX1 meets the Citi target it will return approximately 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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