NAN – Morgans rates the stock as Downgrade to Hold from Add

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Share price of Nanosonics has been relatively stable during this period of pandemic-generated volatility, observes Morgans.

The broker believes revenue will be uncertain till the first quarter of FY21 and has left forecast unchanged, having lowered it before by -2%.

The company’s technology platform will continue to be prized and the current offering – Trophon2 – to be expanded soon.

With share price close to the broker’s target, Morgans downgrades its rating to Hold from Add with a target price of $6.92.

Sector: Health Care Equipment & Services.

Target price is $6.92.Current Price is $6.79. Difference: $0.13 – (brackets indicate current price is over target). If NAN meets the Morgans target it will return approximately 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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