PTB – Morgans rates the stock as Add

Prior to FY21 results on August 27, PTB Group has upgraded earnings (EBITDA) and net profit before tax and foreign exchange (NPBTFX) guidance to the upper end of the previous range. Morgans lifts normalised FY21 EPS forecast by 2% and maintains its $0.93 target price.

The broker sees significant upside to this price target, with potential growth in the US being the key value driver. The analyst awaits FY22 guidance at the full year result for increased confidence in the US outlook and maintains the Add rating.

Sector: Capital Goods.

 

Target price is $0.93.Current Price is $0.76. Difference: $0.17 – (brackets indicate current price is over target). If PTB meets the Morgans target it will return approximately 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

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 →