Morgan Stanley points out the focus shifts back to Reckon’s business division after the announced sale of the Accountants Practice Management division for $100m.
The business division’s cloud migration is the most progressed and has the strongest top-line momentum of the company’s segments, explains the analyst. The Equal-weight rating and $1.05 target price are retained. Industry view: In-Line.
Sector: Software & Services.
Target price is $1.05.Current Price is $1.27. Difference: ($0.22) – (brackets indicate current price is over target). If RKN meets the Morgan Stanley target it will return approximately -21% (excluding dividends, fees and charges – negative figures indicate an expected loss).
