APT – Morgans rates the stock as Add

By Broker News | More Articles by Broker News

The company has provided key metrics in its Australasian business, along with an update on its expansion in the US and UK. The main positive, for Morgans, was US business, which was substantially higher in terms of sales, merchants, and customers in the second half.

The US net transaction margin is also improving month on month on the back of merchant fee income and stabilising losses as the business achieves scale. Morgans assesses the second half sequential sales growth of 10% in Australia is reasonably solid.

Morgans maintains an Add rating and raises the target to $25.96 from $20.47.

Sector: Software & Services.

Target price is $25.96.Current Price is $23.98. Difference: $1.98 – (brackets indicate current price is over target). If APT meets the Morgans target it will return approximately 8% (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 →