Codan's Communications Outlook Could be Conservative
Dow Jones
Yesterday
0220 GMT - Codan's second-half outlook for its communications division looks potentially conservative to UBS analysts. While they maintain a neutral rating on the technology hardware supplier, the investment bank's analysts think that the second-half outlook implied by its annual divisional growth guide assumes there will be no new conflict-related contract wins over the balance of the year. They tell clients in a note that this take seems conservative and that they see substantial upside to Codan's guidance for 30%-40% revenue growth at its communications business. UBS lifts its target price 43% to 68.50 Australian dollars. Shares are up 0.6% at A$66.20.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.