The third quarter cashflow report shows to Morgans the business is well funded to achieve a number of key growth objectives over the next three years.
Nano sales are expected to accelerate in upcoming quarters, with additional distributor agreements a likely catalyst, explains the broker. Another catalyst is considered to be regulatory clearance for the Rover in Europe.
The Buy (Speculative) and $0.61 price target are unchanged. The downside risk is a delay in securing further Nano and Rover orders, cautions the analyst.
Sector: Health Care Equipment & Services.
Target price is $0.61.Current Price is $0.33. Difference: $0.28 – (brackets indicate current price is over target). If MX1 meets the Morgans target it will return approximately 46% (excluding dividends, fees and charges – negative figures indicate an expected loss).
