Morgans makes no changes to forecasts after management, at the AGM, were optimistic on upcoming revenue growth in Australia and specifically Nth America, due to the easing of pandemic restrictions.
Two new products were announced, which expands what Morgans considers to be a compelling product offering. The broker maintains its Speculative Buy rating and $1.42 target price.
Sector: Technology Hardware & Equipment.
Target price is $1.42.Current Price is $0.61. Difference: $0.81 – (brackets indicate current price is over target). If CBL meets the Morgans target it will return approximately 57% (excluding dividends, fees and charges – negative figures indicate an expected loss).