Morgan Stanley thought Nearmap’s market update, well-received by investors yesterday, was definitely yet another positive.
The underlying suggestion is this company appears on track to outperform expectations, with management reiterating guidance to reach breakeven in FY19, excluding capital raise and new growth initiatives.
Morgan Stanley analysts certainly believe the prospect for management to deliver on its promises appears “very realistic”. Overweight. Industry view In-Line. Price target $2.
Sector: Software & Services.
Target price is $2.00.Current Price is $1.75. Difference: $0.25 – (brackets indicate current price is over target). If NEA meets the Morgan Stanley target it will return approximately 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).