The share price has rallied over 30% in the last month and Morgans downgrades to Hold from Add. Second half operating earnings (EBITDA) are forecast to be less than the first half so, potentially, some weakness is likely to follow when the company reports in late August.
The broker suggests this will become a buying opportunity. Morgans rolls forward the model and raises the target to $4.99 from $4.55.
Sector: Health Care Equipment & Services.
Target price is $4.99.Current Price is $5.59. Difference: ($0.60) – (brackets indicate current price is over target). If NAN meets the Morgans target it will return approximately -12% (excluding dividends, fees and charges – negative figures indicate an expected loss).