Guidance for first-half revenue and operating profit (NPATA) were broadly in-line with Morgans’ estimates.
A key highlight for the broker is the continued outperformance of PEXA, with revenue growing over four times from FY18 to FY20.
Morgans upgrades FY21-FY23 EPS forecasts by around 6%, 7% and 8%, respectively, mainly on higher global transformation program (GTP) benefits.
The Hold rating is unchanged and the target price is increased to $5.74 from $5.40.
Sector: Software & Services.
Target price is $5.74.Current Price is $5.56. Difference: $0.18 – (brackets indicate current price is over target). If LNK meets the Morgans target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
