ALU – Deutsche Bank rates the stock as Buy

By Broker News | More Articles by Broker News

Altium’s result beat on the critical revenue line, exceeding the company’s target. Sales and subscriber growth and renewals continued to improve, the broker notes, reflecting a stronger organic growth profile.

Altium has reiterated its FY20 revenue target while lowering expected contribution from acquisitions, meaning organic growth is seen as the key driver. The broker retains Buy, lifting its target to $9.50 from $9.10.

Sector: Software & Services.

Target price is $9.50.Current Price is $8.50. Difference: $1.00 – (brackets indicate current price is over target). If ALU meets the Deutsche Bank target it will return approximately 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →