Morgans increases its target price for Audeara to $0.29 from $0.22 after incorporating into forecasts a recent strategic investor placement and an uplift to bear-case international clinic numbers.
These changes follow the announcement of a global distribution agreement with Amplifon, the world’s largest audiology retailer. The broker notes the agreement will expand clinical reach into a further 25 countries.
The Speculative Buy rating is unchanged.
Sector: Consumer Durables & Apparel.
Target price is $0.29.Current Price is $0.13. Difference: $0.16 – (brackets indicate current price is over target). If AUA meets the Morgans target it will return approximately 55% (excluding dividends, fees and charges – negative figures indicate an expected loss).
