CBL – Morgans rates the stock as Add

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).

 

 

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