MVF – Morgans rates the stock as Add

By Broker News | More Articles by Broker News

At the AGM, Monash IVF noted a strong rebound from July to October. This was indicated by stimulated cycles growing by 23.1%, international up 16.2% and the Ultrasound business up 10.7%. 

Morgans upgrades FY21-23 EPS forecasts by 11.7%, 7.7% and 1.6%, respectively, after increasing cycle volume growth assumptions.

The broker also increases dividend assumptions to 4 cents from 3 cents for FY21, and then growing by 10% per annum.

The Add rating is unchanged and the target is increased to $0.85 from $0.65.

Sector: Pharmaceuticals, Biotechnology & Life Sciences.

Target price is $0.85.Current Price is $0.74. Difference: $0.11 – (brackets indicate current price is over target). If MVF meets the Morgans target it will return approximately 13% (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 →