LVH – Morgans rates the stock as Add

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The company continues to widen distribution channels and has added three new partners in the September quarter. Morgans points out new partners do not increase revenue immediately but increase the odds of meeting revenue forecasts over time.

The company has just signed new channel partner deals with Cognitus Consulting, Proactive Talent and Manpower Group Australia. This will have no near-term impact on revenue as partners typically take 4-6 months to get up to speed.

Add rating maintained. Target is reduced to $0.86 from $0.87.

Sector: Software & Services.

Target price is $0.86.Current Price is $0.28. Difference: $0.58 – (brackets indicate current price is over target). If LVH meets the Morgans target it will return approximately 67% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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