VHT – Morgans rates as Add

The company posted a positive trading update and Morgans notes annual recurring revenue of NZ$3.6m is indicated for FY18, exceeding prior guidance.

The rate of customer adoption is encouraging for the broker and the Add rating and 81c target are retained.

Sector: Health Care Equipment & Services.

Target price is $0.81.Current Price is $0.77. Difference: $0.04 – (brackets indicate current price is over target). If VHT meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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