FY18 results were broadly in line with expectations. While cash profit from the established business was higher than expected, losses from the start-ups were also higher.
The company is well funded and on track to meet its strategic goals, Morgans asserts. The main uncertainty in FY19 is the level of sales of prosumer athlete monitoring devices.
Risks are beginning to diminish, the broker suggests. Add rating. Target is raised to $1.88 from $1.83.
Sector: Technology Hardware & Equipment.
Target price is $1.88.Current Price is $1.10. Difference: $0.78 – (brackets indicate current price is over target). If CAT meets the Morgans target it will return approximately 41% (excluding dividends, fees and charges – negative figures indicate an expected loss).