Following Control Bionics’ 2Q cashflow report, Morgans lowers FY22 revenue assumptions and increases cost estimates (higher staff and product development expenses).
The target price slips to $1.32 from $1.42 and the Speculative Buy rating is maintained, as the analyst expects several upcoming catalysts’s for a share price rally. These catalyst’s include the launch of new products and converting the existing sales pipeline.
Sector: Technology Hardware & Equipment.
Target price is $1.32.Current Price is $0.39. Difference: $0.93 – (brackets indicate current price is over target). If CBL meets the Morgans target it will return approximately 70% (excluding dividends, fees and charges – negative figures indicate an expected loss).
