HRL Holdings delivered first half revenue of $16.4m and underlying earnings (EBITDA) of $3.5m, slightly ahead of Morgans’ forecast.
Analytica’s earnings (EBITDA) performance (up 14%), and the attainment of a net cash position, were key highlights for the broker.
Morgans has increased the Geotech division’s earnings, which have been offset by moderating forecasts for the Analytica and Software segments.
The Add rating and target price of $0.16 are unchanged.
Sector: Commercial & Professional Services.
Target price is $0.16.Current Price is $0.14. Difference: $0.02 – (brackets indicate current price is over target). If HRL meets the Morgans target it will return approximately 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
