Morgans saw a strong result to finish off FY18 for Frontier Digital. Revenues were some 8.6% ahead of the broker’s expectations. Real estate portals Zameen (Pakistan) and Infocasas (Latin America) have been singled out as stand-out performers.
On the other hand, E24 missed and its valuation has now been reduced in the broker’s modeling. Add rating retained as the year ahead should be another double-digit percentage growth experience. Target price falls to 84c from 95c.
The analysts do make the point that this company remains high risk and investors with a low risk profile should not consider owning it.
Sector: Software & Services.
Target price is $0.84.Current Price is $0.49. Difference: $0.35 – (brackets indicate current price is over target). If FDV meets the Morgans target it will return approximately 42% (excluding dividends, fees and charges – negative figures indicate an expected loss).
